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Thursday , 23 November 2017
Breaking News

President Donald Trump resigns from all private posts of companies

US President Donald Trump has resigned from all the private positions that he held as a civilian. He had promised to resign from all his positions if he became the President of the United States of America. US President Donald Trump is a billionaire real estate developer from New York who was said to be unfit to hold office of the President due to his numerous investments across the World, which could be construed as conflict of interest.

Mr. Trump resigned from all the positions that he held, thus clearing any confusion that anyone may have had. However, there is no change in the ownership structure of all the companies that Mr. Trump owns as he has not bought or sold any shares that could change this.

Mr. Trump’s sons Donald Junior and Eric will now be incharge of running the organization and shall be running it as they wish to. His Chief Financial Office (CFO) Allen Weisselberg will also play a key role in managing the companies. A new trust was formed to manage the Trump organization, with his sons and his CFO as trustees. His spokesman provided a letter which showed the various companies that he had resigned from since becoming President. Many ethics lawyers said that he would have should sell all his assets or put them in a blind trust while he is President.

Mr. Trump has also threatened companies which do not Manufacture in America, but want to sell in America with high trade and import tarriffs if they refuse to start manufacturing operations in America. His threats have resulted in many US manufacturers like Carrier, Ford, Toyota and other internet giants like Softbank and Alibaba to shelve their plans to shift their plants and jobs to other countries and provide jobs in America.

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