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USA: President-elect Trump hands over business empire to sons 02:36

USA: President-elect Trump hands over business empire to sons

United States, New York
January 11, 2017 at 19:36 GMT +00:00 · Published

I don't like the way that looks, but I would be able to do that if I wanted to. I would be the only one to be able to do that. You can't do that in any other capacity. But as president, I could run the Trump organization, great, great company, and I could run the company - the country. I'd do a very good job, but I don't want to do that. Now, all of these papers that you see here - yes, go ahead."

JOURNALIST: (inaudible) do you believe the hacking was justified? And will you release your tax returns to prove what you're saying about no deals in Russia?: Since the '70's has had a required audit from the IRS, the last place to release them, but as president sir...

SOT, Donald Trump, President-elect (English): "You know, the only one that cares about my tax returns are the reporters, OK? They're the only who ask."

JOURNALIST: (inaudible) You don't think the American public is concerned about it?

SOT, Donald Trump, President-elect (English): "No I don't think so. I won, when I became president. No, I don't think they care at all. I don't think they care at all. I think you care - I think you care. First of all, you learn very little to a tax return. What you should go down to federal elections and take a look at the numbers. And actually, people have learned a lot about my company and now they realize, my company is much bigger, much more powerful than they ever thought. We're in many, many countries, and I'm very proud of it.

And what I'm going to be doing is my two sons, who are right here, Don and Eric, are going to be running the company. They are going to be running it in a very professional manner. They're not going to discuss it with me. Again, I don't have to do this. They're not going to discuss it with me. And with that, I'm going to bring up Sheri Dillon, and she's going to go - these papers are just some of the many documents that I've signed turning over complete and total control to my sons."

US President-elect Donald Trump announced that he will be handing over control of his business empire to his two sons, Donald Jr and Eric, at a press conference in New York on Wednesday.

Trump announced that lawyer Sheri Dillon and a team the firm Morgan Lewis are currently working on a framework to ensure that there are no conflicts of interest.

"I understand they don't want presidents getting tangled up in minutia; they want a president to run the country", Trump said, but added that he could run continue to run his business if he wanted to.

"What I'm going to be doing is my two sons, who are right here, Don and Eric, are going to be running the company. They are going to be running it in a very professional manner. They're not going to discuss it with me. Again, I don't have to do this", he said.

Dillon went on stage and detailed the framework of the handing over of the business and the 'trust agreement' which includes a clause that requires the written approval an ethics adviser for new deals, actions, and transactions that could potentially raise conflicts of interest concerns.

When a journalist asked whether Trump will release he tax returns, he said that he didn't think that the public care about it, only journalists. "I don't think they care at all. I think you care", he said.

Trump's investments and business assets, known as the Trump Organization, will be conveyed to a trust ahead of Jan. 20.

USA: President-elect Trump hands over business empire to sons 02:36
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I don't like the way that looks, but I would be able to do that if I wanted to. I would be the only one to be able to do that. You can't do that in any other capacity. But as president, I could run the Trump organization, great, great company, and I could run the company - the country. I'd do a very good job, but I don't want to do that. Now, all of these papers that you see here - yes, go ahead."

JOURNALIST: (inaudible) do you believe the hacking was justified? And will you release your tax returns to prove what you're saying about no deals in Russia?: Since the '70's has had a required audit from the IRS, the last place to release them, but as president sir...

SOT, Donald Trump, President-elect (English): "You know, the only one that cares about my tax returns are the reporters, OK? They're the only who ask."

JOURNALIST: (inaudible) You don't think the American public is concerned about it?

SOT, Donald Trump, President-elect (English): "No I don't think so. I won, when I became president. No, I don't think they care at all. I don't think they care at all. I think you care - I think you care. First of all, you learn very little to a tax return. What you should go down to federal elections and take a look at the numbers. And actually, people have learned a lot about my company and now they realize, my company is much bigger, much more powerful than they ever thought. We're in many, many countries, and I'm very proud of it.

And what I'm going to be doing is my two sons, who are right here, Don and Eric, are going to be running the company. They are going to be running it in a very professional manner. They're not going to discuss it with me. Again, I don't have to do this. They're not going to discuss it with me. And with that, I'm going to bring up Sheri Dillon, and she's going to go - these papers are just some of the many documents that I've signed turning over complete and total control to my sons."

US President-elect Donald Trump announced that he will be handing over control of his business empire to his two sons, Donald Jr and Eric, at a press conference in New York on Wednesday.

Trump announced that lawyer Sheri Dillon and a team the firm Morgan Lewis are currently working on a framework to ensure that there are no conflicts of interest.

"I understand they don't want presidents getting tangled up in minutia; they want a president to run the country", Trump said, but added that he could run continue to run his business if he wanted to.

"What I'm going to be doing is my two sons, who are right here, Don and Eric, are going to be running the company. They are going to be running it in a very professional manner. They're not going to discuss it with me. Again, I don't have to do this", he said.

Dillon went on stage and detailed the framework of the handing over of the business and the 'trust agreement' which includes a clause that requires the written approval an ethics adviser for new deals, actions, and transactions that could potentially raise conflicts of interest concerns.

When a journalist asked whether Trump will release he tax returns, he said that he didn't think that the public care about it, only journalists. "I don't think they care at all. I think you care", he said.

Trump's investments and business assets, known as the Trump Organization, will be conveyed to a trust ahead of Jan. 20.

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