Donald Trump’s campaign is hitting more and more speedbumps on the road to the Presidency. Reported today nationally is that the State of New York has ordered the Trump Foundation to cease and desist immediately, while evidence of purchasing steel from China over the American Steel Workers.
New York Attorney General Eric Schneiderman’s office on Monday ordered the Donald J. Trump Foundation to “immediately cease soliciting contributions” after a report that the charity lacked the proper authorization to seek public donations. “The Attorney General’s office is the sole regulator of charities in New York State, and when evidence of clear misconduct is brought to our attention, we take action,” a spokesman for the attorney general’s office said in a statement.
With the winning on the charity front for the “Donald”, losing is a scary proposition.
At least two of Trump’s last three construction projects, Trump opted to purchase his steel and aluminum from Chinese manufacturers rather than United States corporations based in states like Pennsylvania, Ohio, Michigan and Wisconsin. This has been a great loss for the U.S. Steelworker, as well as the American economy. Several of the swing states have been affected negatively by this action, which will have a huge impact on support, once learned by the voters.
Per NEWSWEEK: “Of Trump’s last three construction projects, the first to use Chinese steel was Trump International Hotel Las Vegas, which opened in 2008. That the manufacturer is from China is not immediately evident; this fact is hidden within a chain of various corporate entities, including holding companies registered in the British Virgin Islands. That micro-state is a popular site for obscure off-shore entities that exist only on legal documents, limiting the potential liability of real businesses while obscuring their true owners.
According to government documents, the Chinese entity chosen by Trump to provide steel for the Las Vegas property is a holding company called Ossen Innovation Co. Ltd.–formerly known as Ultra Glory International Ltd. That British Virgin Islands entity, in turn, owns a second holding company called Ossen Innovation Materials Group Ltd., which, through a complex legal arrangement, indirectly owns Ossen Innovation Materials Co. Ltd., and through it, Ossen (Jiujiang) Steel Wire & Cable Co. Ltd., the operating business located in Shanghai. With such layers upon layers of corporate shells and divisions, builders like Trump can purchase their steel from less-expensive Chinese suppliers without the ultimate supplier being readily apparent. That steel was then used in the construction of the Las Vegas property.
When Americans like Trump purchase their steel through Ossen, they are providing financial benefits to an array of Chinese companies and even the government. For example, Ossen corporate records show Chinese banks provide all of its short-term financings in the form of loans that almost all mature after one year, and then are replaced by new loans; most Chinese banks are arms of the state, tightly controlled by the Chinese Communist Party, and provide financing to companies that are competitors to American manufacturers in other industries. (For example, the Chinese companies that manufacture suits and ties for the Donald Trump Signature Collection also obtain loans from mainland banks; Trump has said he has been forced to use the Chinese for his clothing lines because no American company makes those kinds of products anymore. That is not true—for example, all Brooks Brothers ties are made in New York, while about 85% of the company’s suits are made in Massachusetts.)”
While there were more encroachments into the global market by the “Donald”, one infamous purchase is the recent Trump building that has used metal from China is Trump International Hotel and Tower in Chicago, which opened in 2009. For that project, Trump obtained loans from Deutsche Bank and three hedge funds that in turn used financing from George Soros, the business magnate who is the subject of many conservative conspiracy theories and is portrayed as a threat to the Republican Party. This is not a typo, yes this is the second generous partnership that George Soros and the “Donald” have had.
Trump has not committed any crimes by purchasing his steel and aluminum from China, nor did he engage in wrongdoing by using Chinese textile factories to make his clothing lines. But, given the only beneficiaries of his decisions to go with cheaper Chinese metals for his construction project are Trump and his family. There is no illegality in making a profit, but for those who are #nevertrump, this is folly to the riches of non-leadership of the “Donald” and gives the Hillary supporters more “proof” of the negative aspects of the “Donald”.
The continued exposing of both Hillary and Donald gives more credence to third party alternatives like Evan McMullin, Gary Johnson, Jill Stein, and Darrell Castle.Tags: Donald Trump Trump Foundation