President IMAX claimed that China would “own” presumptive Democratic nominee Joe Biden if the former Vice President is elected. In fact, our gish galloping president has said that China, Iran, Canada, and Mexico would “own America” if Biden beats him in the US presidential election. There’s a smell of desperation in the air coming out of the White House as Trump’s poll numbers are tanking while Biden’s numbers are soaring in key areas.
“Nobody has been tougher on China than me,” Trump insisted during Tuesday’s coronavirus briefing.
There’s just a tad bit wrong with President Projection’s claim since, according to financial records, Trump is deeply in debt to China to the tune of tens of millions of dollars. Siri, tell me the definition of loans, please.
In 2012, according to Politico, Trump’s real estate partner refinanced one of the president’s most prized New York buildings for almost $1 billion. And the details get interesting there, since the debt includes $211 million from the state-owned Bank of China — marking its first loan of this kind in the U.S. Here’s the kicker: That staggering amount of debt matures in the middle of what could be Trump’s second term. Ohhhh.
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From there, it gets even worse:
But Trump’s recent criticisms of China have been muddied by his own mixed messaging as well as by his numerous financial ties to the country. Those connections extend far beyond the Avenue of the Americas loan: Chinese state-owned companies are constructing two luxury Trump developments in United Arab Emirates and Indonesia. The president and his daughter Ivanka Trump, a White House adviser, have been awarded trademarks by China’s government. And his son-in-law, Jared Kushner, has courted Chinese investors in at least one other real estate deal.
Gee, that’s pretty swampy, don’t you think? It’s almost as if any dubious thing this president tries to do backfires. Democrats pushed Trump to fulfill one of his central campaign promises to release his tax returns. That disclosure would have cleared this hot mess up from the start, but Trump’s Republican colleagues protected their president, so that’s how we got here.
Poll numbers have team Trump in panic-mode. An NBC/Wall Street Journal poll that was released over the weekend showed that voters thought Biden would do a better job than Trump in managing the coronavirus pandemic by a 9-point margin. New polls show Trump trailing Biden in Florida, Michigan, and Pennsylvania.
Update via Politico:
On Friday evening, POLITICO received a statement from a representative for Bank of China USA, which had not been contacted beforehand, that the bank had sold off, or securitized, its debt shortly after the 2012 deal. A spokeswoman said the bank has no current financial interest in any Trump Organization properties. We updated the body of the article to take account of the bank’s statement. The original headline was changed to “Trump owed tens of millions to the Bank of China.”
Featured image via Political Tribune gallery
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