President Donald Trump's second term is presenting a unique moment for foreign governments looking to curry favor with the administration in new ways that were previously frowned upon.
That's according to a Thursday analysis in the Atlantic by author Casey Michel, who delved into the multitude of ways Trump and his family's efforts to "profit from the presidency." Michel – who authored the book "Foreign Agents: How American Lobbyists and Lawmakers Threaten Democracy Around the World" — argued that while Trump's first term in the White House was rife with unprecedented "graft," his second presidency "already represents the high-water mark of American kleptocracy" even after just six months.
"There are good reasons to think it will get much worse," Michel wrote.
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The author recalled how Trump is making money from "autocratic regimes" by building luxury real estate developments in Gulf Arab countries like Oman and Saudi Arabia. He's also building a golf resort in Vietnam, and accepted a $400 million jet from Qatar in May. And Michel observed that the Trump administration has been rapidly eradicating the resources the federal government typically has at its disposal to rein in corruption.
"Trump’s Treasury Department effectively terminated America’s new shell-company registry. His DOJ dissolved task forces that seized stolen assets. The administration froze the Foreign Corrupt Practices Act, the bedrock of America’s antibribery regime," he recalled. "In sum, Trump has dismantled a network of agencies, laws, and norms that thwarted all kinds of kleptocracy, including the kind that enriches a sitting president."
Michel cautioned that foreign regimes are paying attention to what Trump is doing and "see an extraordinary window of opportunity" over the next three years to "guarantee favorable policy." He posited that countries facing sanctions could entertain "building a Trump resort" and that investing in "Trump-backed crypto" could ensure that they remain in the United States' good graces. He suggested that pretty soon, there may be an implicit "incentive to out-bribe one’s competition" in order to reap policy rewards from the United States.
"Foreign regimes are beginning to see just how far their money can go in Trump’s America," he wrote. "The highest bidder has never had so much to gain."
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Click here to read Michel's full article in the Atlantic (subscription required).