+91-9560121007

+1-929-243-5550

Trump owes tens of millions to the Bank of China — and the loan is due soon

Donald Trump is warning “China will own the United States” if Joe Biden is elected president.

However Trump himself is tens of millions of {dollars} in debt to China: In 2012, his actual property associate refinanced one of Trump’s most prized New York buildings for nearly $1 billion. The debt contains $211 million from the state-owned Bank of China — its first loan of this sort in the U.S. — which matures in the center of what might be Trump’s second time period, financial records present.

Steps away from Trump Tower in Manhattan, the 43-story 1290 Avenue of the Americas skyscraper spans a whole metropolis block. Trump owns a 30 percent stake in the property valued at more than $1 billion, making it one of the priciest addresses in his portfolio, in accordance to his monetary disclosures.