The debt stems from a $950 million refinancing deal in 2012, to which the Bank of China chipped in $211 million. With the loan, Bank of China grew to become the first in the nation to enter the U.S. securitization market, in accordance to a 2013 Wall Street Journal article. Vornado’s federal financial disclosures present it and the different proprietor of 1290 Avenue of the Americas — Trump — are nonetheless indebted from the 2012 deal.

“While Trump is talking about the former vice president’s son financial dealings, in Trump’s case, it is the president himself who has a company he still owns and profits from that has financial relationships with the countries that he is supposed to be negotiating with on behalf of the American people,” stated Robert Maguire, analysis director for Residents for Accountability and Ethics in Washington.