The Industrial & Commercial Bank of China Ltd., a state-controlled enterprise and the world’s biggest lender by assets, is due to renegotiate its lease at Trump Tower in Manhattan during Donald Trump’s presidency — a business matter that may raise constitutional questions for the incoming president, ethicists say.
The bank’s lease is slated to end in October 2019, adding its renewal to the list of potential conflicts of interest for president-elect Trump, who has vowed to slap steep tariffs on Chinese imports and declare China a currency manipulator. The lease is no small matter for the Trump Organization. ICBC was Trump Tower’s largest office tenant as of 2012, occupying 11 percent of its office space, according to mortgage documents filed by Wells Fargo & Co. that year.
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