Just shortly before the Chinese President is set to visit President Donald Trump at his “Winter White House” Mar-A-Lago, Trump’s son-in-law is receiving a particularly generous deal from Chinese company Anbang Insurance Group.
Jared Kushner’s family currently owes $250 million to China through Kushner Companies, a substantial sum. But rather than continuing to owe the large sum, AIG is prepared to forgive the majority of that debt if the family can pay just $50 million.
The deal is: AIG will invest in a Kushner Companies-owned office tower located on 5th avenue. AIG will pay a whopping $4 billion to invest. Even the most generous estimates claim that the building is worth $2.85 billion.
Kushner, who is married to Trump daughter Ivanka, is deeply involved in Trump’s administration and even is serving as the (very) unofficial Secretary of State while current SoS Rex Tillerson travels abroad. As Tillerson is the one orchestrating the visit from the Chinese President, the idea that Kushner is involved in a unofficial, off-the-record capacity is alarming at best.
Many are concerned rightfully that Kushner’s deal with the Chinese company is a sign that the Chinese government is attempting a bit of pay-to-play with the Trump family. This is especially concerning because President Trump will be hosting Chinese President Xi Jinping just next month for a summit.
Tensions remain high between the United States and China, especially as action in North Korea continues to escalate. Are the Chinese hoping to endear Trump to them in the only language he understands, cold hard cash?
Chinese investors forgiving 4/5 of Kushner family debt at 666 Fifth Avenue. Expect lots of smiles when Trump receives Xi this coming weekend
— David Frum (@davidfrum) March 13, 2017