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Experts say Trump's plan to leave business isn't enough

Experts say Trump's plan to leave business isn't enough

So far, there is little indication that Trump wants to keep his children at considerable distance. His daughter Ivanka joined a telephone call her father had with Argentine President Mauricio Macri earlier this month and attended a meeting with Japanese Prime Minister Shinzo Abe, creating concerns about possible conflicts of interest.

His company had previously said his adult children would be put in charge of the business.

"While I am not mandated to do this under the law, I feel it is visually important, as President, to in no way have a conflict of interest with my various businesses", Trump added. They'll be at the press conference, after all, and this would technically satisfy his promise to take himself "completely out of business operations". But importantly, he hasn't said he'll transfer ownership, or that he'll have strict safeguards in place to prevent any children involved with management from talking business with the administration while he's president.

Others experts have said Trump's proposal to cede control of his business to his children could be sufficient, as long as certain protocols are met. He announced he's holding a press conference. "There's pretty widespread agreement that turning this over to his kids would not solve the conflict-of-interest problem".

Trump had been under criticism for exposing himself to potential conflicts if he kept a role in his global business while being president. Richard Painter, former chief ethics counsel for Bush, and Norman Eisen, former chief ethics counsel for Obama, said that the president-elect must sell out from his real estate and business holdings before 19 December, when the electoral college officially appoints the next president.

"We can't repeat enough how good this total divestiture will be", read the first tweet from the main ethics agency overseeing the executive branch.

Mnuchin, a former Goldman Sachs banker, also signalled a desire to remove USA mortgage-finance companies Fannie Mae and Freddie Mac from government ownership, a move that could have wide-ranging ramifications for how Americans pay for their homes, and said banking regulations should be eased to spur lending.

Trump's wealth is estimated at $3.7bn by Forbes, and his primary assets include Trump Tower in Manhattan and the Mar-A-Lago in Palm Beach, Florida.

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Mr Trump is also working to fill out his foreign policy team, but no decision appears to be imminent on who the next secretary of state will be. Billionaire investor Wilbur Ross, known for his investments in distressed industries, is expected to be named commerce secretary, a source said. During the USA election campaign, President Barack Obama's administration accused Russian Federation of hacking American political sites and email accounts in an effort to interfere with the vote.

"The conflict of interest laws in particular don't apply to the president, but other laws on the books that are meant to prevent similar types of corruption and do apply to the president", said Ryan, adding that beyond the Constitutional clause, statutes prohibiting bribery and gifts apply to the president as well.

In a phone call on November 16, Trump told Putin that he looks forward to "a strong and enduring relationship with Russian Federation and the people of Russian Federation", according to his transition team.

One can make an argument that this is good business strategy, as was the case made for Trump's tax-dodging sketchiness that blew up shortly during the first two debates and then fell by the wayside.

Steven Mnuchin tells CNBC's "Squawk Box" that the country is in a period of low rates that "have come up a little bit, which I think makes sense".

Mnuchin says the administration will work with Congress to figure out how to pay for this effort. "I hope there is going to be an improvement in relations between Washington and Moscow", he said.