Trump to 'leave business in total' over presidency

US President-elect Donald Trump has announced that he will be “leaving” his business interests “in total” in order to avoid the appearance of a conflict of interest once he becomes President.

Trump, who has been criticised by constitutional lawyers and ethics counsellors for refusing to give up ownership of his business empire, said in a series of tweets that he would hold a press conference on 15 December to announce the details.

“I will be holding a major news conference in New York City with my children on December 15 to discuss the fact that I will be leaving my great business in total in order to fully focus on running the country in order to MAKE AMERICA GREAT AGAIN!” the President-elect wrote.

I will be holding a major news conference in New York City with my children on December 15 to discuss the fact that I will be leaving my ...

— Donald J. Trump (@realDonaldTrump) November 30, 2016

great business in total in order to fully focus on running the country in order to MAKE AMERICA GREAT AGAIN! While I am not mandated to ....

— Donald J. Trump (@realDonaldTrump) November 30, 2016

do this under the law, I feel it is visually important, as President, to in no way have a conflict of interest with my various businesses..

— Donald J. Trump (@realDonaldTrump) November 30, 2016

Hence, legal documents are being crafted which take me completely out of business operations. The Presidency is a far more important task!

— Donald J. Trump (@realDonaldTrump) November 30, 2016

“While I am not mandated to do this under the law, I feel it is visually important, as president, to in no way have a conflict of interest with my various businesses.” 

Trump has previously dismissed concerns over potential conflicts between his businesses and the presidency, but while there is no legal requirement to liquidate assets, past US Presidents have set aside their business dealings.

Trump did not explain exactly what he would be doing with his assets. He added: “Hence, legal documents are being crafted which take me completely out of business operations. The presidency is a far more important task!”