Trump says he’s stepping out of his business empire

President-elect Donald Trump gives his acceptance speech during his election night rally, Wednesday, Nov. 9, 2016, in New York. (AP Photo/John Locher)
President-elect Donald Trump gives his acceptance speech during his election night rally, Wednesday, Nov. 9, 2016, in New York. (AP Photo/John Locher)


WASHINGTON (AP) — President-elect Donald Trump said Wednesday that he’s leaving his business empire to focus on being the nation’s 45th president, bowing to pressure to avoid potential conflicts of interest between governing and profiting in the private sector.

“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,” he tweeted in a series of missives sent before dawn. “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.”

He said legal documents are “being crafted which take me completely out of business operations,” he added, saying the presidency is “a far more important task!”

Meanwhile, former Goldman Sachs executive Steven Mnuchin, Trump’s former campaign finance director, confirmed that Trump has picked him as treasury secretary and that billionaire investor Wilbur Ross has been chosen for commerce secretary.

Trump is tapping conservatives with deep ties to Washington and Wall Street to fill out key Cabinet roles as he continues to deliberate over his secretary of state.

Mnuchin, 53, led Trump’s finance operations during the presidential campaign and became close to the president-elect and his family. But he has no government experience, which could prove a hurdle in navigating the tricky politics of Washington.

If confirmed by the Senate, Mnuchin would play a central role in shaping Trump’s tax policies and infrastructure plans. He would also lead an agency tasked with implementing international economic sanctions.

Ross is a billionaire investor considered the “king of bankruptcy” for buying beaten-down companies with the potential to deliver profits.

Trump on Tuesday chose Georgia Rep. Tom Price to oversee the nation’s health care system, picking a fierce “Obamacare” critic who has championed efforts to privatize Medicare. And he selected another veteran Republican, Elaine Chao, a former labor secretary and the wife of Senate Majority Leader Mitch McConnell, to head the Department of Transportation.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s