A US senator is due to introduce a resolution asking Donald Trump to convert his billions into “conflict-free” holdings and adopt blind trusts.
Democrat Ben Cardin also says the proposal will mean any companies owned by the President-elect that share an entity with a foreign government will be “potential violations of the constitution”.
Mr Trump’s wealth is estimated at $3.7bn by Forbes, and his primary assets include Trump Tower in Manhattan and the Mar-A-Lago in Palm Beach, Florida.
Richard Painter, the former chief ethics counsel for George W Bush and Barack Obama, has asked the Electoral College not to appoint Mr Trump on 19 December unless he tackles his potential conflicts of interest.
Mr Cardin, who is also a senior member of the Senate’s finance committee, said: “The founding fathers were clear in their belief that any federal office holder of the United States must never be put in a position where they can be monetarily or otherwise influenced by a foreign governmental actor.
“This resolution is intended to prevent a crisis or any misunderstanding regarding the consistency of the President’s actions with the US constitution.
“Unless he takes appropriate action, Mr Trump’s many international financial interests pose a great risk of violating the constitution.”
Mr Cardin pointed out a clause in the US constitution that said “no person holding any office of profit or trust … shall, without the consent of the congress, accept … office”.
The 70-year-old billionaire property magnet suggests placing his children, three of whom are in his transition team, in charge of a blind trust.Reuse content