Trump fashion brand halted talks on deal with Japan firm
The operator of Ivanka Trump's fashion brand has halted business
negotiations with major Japanese apparel company Sanei-International
Co. due to concerns over potential conflicts of interest, according
to a letter from the operating company made public Monday.
Trump serves as an adviser to her father, President Donald
Trump, and potential conflicts of interest between the Trump family's
businesses and public duties have been an issue of concern since he
According to the letter from an executive of Ivanka Trump
Operations LLC, dated May 17 and addressed to a ranking member of the
U.S. House of Representatives Committee on the Judiciary, the company
and Sanei agreed in principle on a potential transaction in August
However, the company notified Sanei in January that it "decided
not to pursue further negotiations" as it has learned
Sanei-International's parent company had ties to the Japanese
Ivanka Trump resigned her positions at the business in January
and subsequently placed it in a trust out of concerns for a conflict
of interest with respect to the business's potential expansion into a
foreign market, according to the letter.
Information disclosed by Sanei's parent company TSI Holdings Co.
showed TSI's largest shareholder was the state-owned Development Bank
of Japan as of the end of February.
The New York Times reported Monday that lawmakers say they
"remain concerned" about Ivanka Trump possibly using the White
to further her private interests. (June 13)