 | | Donald J. Trump’s project in Rio de Janeiro. Anselmo Henrique Cordeiro Lopes, a Brazilian federal prosecutor, opened an investigation in the weeks before the American election into $40 million in investments made by two relatively small Brazilian pension funds in the Trump Hotel Rio. Lianne Milton for The New York Times | | |
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| By Amie Tsang |
| “It is uncharted territory, really in the history of the republic, as we have never had a president with such an empire both in the United States and overseas.” |
| — Michael J. Green, who served on the National Security Council in the administration of George W. Bush. |
| Donald J. Trump’s holdings around the world have created a menu of possible complications for him. Here are some of the potential sources of controversy that The New York Times has identified: |
| • The Trump Hotel Rio de Janeiro is one of Mr. Trump’s branding deals in which he does not have an equity stake. It is part of a broad investigation by a federal prosecutor who is examining whether illicit commissions and bribes resulted in apparent favoritism by two pension funds that invested in the project. |
| • Several of Mr. Trump’s real estate ventures in India are being built through companies with family ties to India’s most important political party — making it more likely that Indian government officials will give special favors benefiting his projects. |
| • In Ireland and Scotland, executives from Mr. Trump’s golf courses have been waging two separate battles with local officials. The most recent dispute involves the Trump Organization’s plans to build a flood-prevention sea wall at a course on the Irish coast. |
| • In Turkey, officials including President Recep Tayyip Erdogan have demanded that Mr. Trump’s name be removed from Trump Towers in Istanbul after he called for a ban on Muslims entering the United States. More recently, Mr. Trump has come to Mr. Erdogan’s defense, fueling fears that Mr. Trump’s policies toward Turkey might be shaped by his commercial interests. |
| These potential conflicts would not just create problems for Mr. Trump. David J. Kramer, who served as assistant secretary of state for democracy, human rights and labor during the Bush administration, said they would also undermine decades of efforts to promote government transparency. |
| “This will make it a little harder to be able to go out and proselytize around these things,” Mr. Kramer said. |
| More on Mr. Trump’s approach to business and the presidency: |
| • Wilbur L. Ross, the billionaire investor expected to be nominated as the next commerce secretary, has been considered a hero or a villain during his career — and not much in between. In his business of buying distressed companies, failure can come with headlines about collapsed business and lost jobs. But there is a big reward if the turnaround strategy works. |
| • Big ideas can lead to great things when they are encouraged by a president and ambitious thinking has led to big infrastructure projects like the Hoover Dam and the Golden Gate Bridge. To live up to his opportunity, Mr. Trump should bring in the best of the business community, rather than the most loyal, writes Robert J. Shiller, Sterling Professor of Economics at Yale. |
| • Mr. Trump’s emphasis on tax cuts and deregulation is ushering in an ’80s-like euphoria among the rich, writes Robert Frank, CNBC’s wealth editor. The question is whether, in this age in which wealth culture is about whitewall minimalism rather than gold, Mr. Trump can make wealth glamorous again. |
| Coming Up |
| • The shopping weekend comes to an end with Cyber Monday. Thinking of picking up Nintendo’s new retro console? Think again. Even as retailers cut prices on other electronic products, the Nintendo Entertainment System, which has been selling out in a flash, is being resold for as much as $390 because the company has been sluggish in responding to demand. |
| • Arguments will be made on Tuesday before the European Court of Justice, which will decide how Uber can operate across the European Union. Uber’s rapid growth has pitted it against traditional taxi services and local labor unions, which have accused it of flouting transportation rules and disregarding working standards. The Spanish taxi association filed legal proceedings against Uber, claiming unfair competition. The court will decide whether Uber should be treated as a transportation service or a digital platform. |
| Contact: amie.tsang@nytimes.com |
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