President Donald Trump reportedly owes tens of millions of dollars to the Bank of China, and the payment is coming due.
The debt comes from a billion-dollar building, 1290 Avenue of the Americas, in Manhattan, which Trump has a 30% share.
In 2012, his real estate partners refinanced this building by borrowing $211million from the state-owned Bank of China.
The payment is due in 2022. Trump would still be in the White House by then if he gets reelected.
The bank, however, has disclosed that they sold the mortgage on the property to a new financial institution as a trustee for the debt, making it an “old lender.”
Trump has been attacking Joe Biden, his Democratic opponent, by claiming that he is too soft on China. The president has said that if Biden is elected, he will allow China to “own the United States.”
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