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Trump has a Chinese bank account, reports New York Times

Trump has a Chinese bank account, reports New York Times

US President Donald Trump, Image credit: PTI

New York: The New York Times has reported that US President Donald Trump, admittedly, maintains a Chinese bank account.

A spokesman for the president reportedly said the account was "set up to explore the potential for hotel ideas in Asia".

"Though the bank account remains open, it has never been used for any other purpose," Alan Garten, a lawyer for the Trump Organization, told the NYT.

The account is controlled by Trump International Hotels Management and paid local taxes between 2013 and 2015, BBC says.

The revelation leaves Trump in the tight spot considering his avowed stand against China and was critical of US firms doing business in China, triggering trade war between two nations.

The revelation corners Trump further after he criticized his rival Joe Biden and his policies towards China.

In August, Trump said he wanted to offer tax credits to US firms, in order to move their factories out of China, according to BBC.

Alongside, the revelation brings into focus Trump's threat to strip government contracts from firms that continue to outsource work to China.

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