Axios - Protests in Serbia last week over a planned Trump Tower in Belgrade were just the latest example of the president's business empire rubbing up against U.S. foreign policy.
- Officially, the president has handed management of his real estate portfolio to his sons. But for some governments around the world, it may be hard to entirely separate President Trump's business from Trump himself.
Serbia's government passed a law this month to fast-track development of the future Trump Tower Belgrade by an investment firm founded by Jared Kushner, Trump's son-in-law.
- The project is backed by strongman President Aleksandar Vučić, who has tried to court Trump while facing mass protests at home.
White House Press Secretary Karoline Leavitt denied that Trump or his family engaged "or ever will engage" in conflicts of interest...
.It's not the first Trump-branded project that's reportedly been expedited by a foreign government during Trump's second term — or the first to face backlash.
- Work was allowed to begin earlier this year on a massive hotel and golf development outside Hanoi without all the required legal and environmental reviews, while Vietnam was also holding high-stakes trade talks with the Trump administration, according to a New York Times investigation.
🎨 The big picture: Investment funds backed by Gulf states or royals have poured money into Kushner's investment fund and the Trump family's crypto venture, for example.
- Those countries — the UAE, Qatar and Saudi Arabia — also struck massive deals with the Trump administration for AI chips and arms. Keep reading.
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