Politico: Trump owes tens of millions to the Bank of China — and the loan is due soon

Ana

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Dec 12, 2018
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Donald Trump is warning “China will own the United States” if Joe Biden is elected president.

But Trump himself is tens of millions of dollars in debt to China: In 2012, his real estate partner refinanced one of Trump’s most prized New York buildings for almost $1 billion. 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.

Steps away from Trump Tower in Manhattan, the 43-story 1290 Avenue of the Americas skyscraper spans an entire city block. Trump owns a 30 percent stake in the property valued at more than $1 billion, making it one of the priciest addresses in his portfolio, according to his financial disclosures.

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.

The revelation complicates one of Trump’s emerging campaign attacks against Biden: that the former vice president would be a gift to the Communist country and America’s chief economic rival.

 
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