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Dec 12, 2016

CNBC | Politics - December12, 2016: Trump to Delay His Announcement about the Future of His Business Until Next Month: NBC

cnbc.com

Trump to delay his announcement about the future of his businesses until next month: NBC

Antonio José Vielma
President-elect Donald Trump walks out of an elevator speak to the media at Trump Tower on December 6, 2016 in New York City.
Getty Images
President-elect Donald Trump walks out of an elevator speak to the media at Trump Tower on December 6, 2016 in New York City.
President-elect Donald Trump is delaying his announcement about how he plans to leave his business until January, NBC confirmed Monday.

The decision to delay, first reported by Bloomberg, is because he's been busy filling up his Cabinet and top administration posts. Trump first announced on November 30 via Twitter he would hold a press conference on Thursday, December 15, to discuss how he would leave his business.

After questions were raised about how, as president, he would handle conflicts of interest with his business, he said his executives would run the the Trump Organization alongside his children. At the time, he said he would stop handling the day-to-day operations of his global real estate empire, but did not give details on the separation.
Critics have cited the "Emoluments Clause," which effectively bars federal officials from doing business with or taking gifts from foreign governments without congressional approval, as the primary reason why he should separate himself from his business operations.

Trump's market-moving tweets about certain companies, such as Boeing and Lockheed Martin, raised questions about other possible conflicts of interest. His team then said that Trump sold off all of his stocks in June, but has yet to provide any documents to confirm the sale.
—The Associated Press and CNBC's Jacob Pramuk contributed to this report.