Donald Trump owes tens of millions of dollars to a Chinese state-owned bank, according to a new report by Politico.
Trump has been trying to push the narrative that former Vice President Joe Biden is a pawn of the Chinese government – but this report shows otherwise.
According to Politico, a Trump real estate partner in 2012 initiated a $1 billion refinance scheme for a skyscraper at 1290 Avenue of the Americas in New York in which Trump owns a 30 percent stake.
“The debt includes $211 million from the state-owned Bank of China — its first loan of this kind in the U.S. — which matures in the middle of what could be Trump’s second term, financial records show,” the publication writes. “Trump’s ownership of the building received a smattering of attention before and after his 2016 campaign. But the arrangement with the Bank of China — and its impending due date in 2022 — has gone largely unnoticed.”
Trump’s plan to use Biden’s dealings with China as a vantage point in the elections won’t work, according to Politico.
“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,” Politico writes. “Those connections extend far beyond the Avenue of the America’s loan: Chinese state-owned companies are constructing two luxury Trump developments in United Arab Emirates and Indonesia.”
You can read the full report HERE.