Trump’s giant deal with Kazakhstan – which is expected to cost his sons a huge sum

The sons of US President Donald Trump and US Commerce Secretary Howard Lutnick are expected to make a fortune following their involvement in the deal their parents signed with the President of Kazakhstan, as revealed yesterday (Sunday) in the New York Times. This is another chapter in the president’s family’s replica gains from his tenure in the White House.

As part of the deal, the Kazakhstan government agreed to grant a private and unknown American company access to one of the largest tungsten reserves in the world. Tungsten is a rare and highly sought-after metal, which the United States and other countries need for the production of warheads for missiles, fighter planes, computer chips and other essential products.

The American government has even pledged to grant the private company, called Kaz Resources, federal funding of up to 1.6 billion dollars to enable the necessary work in Kazakhstan.

But in the American newspaper it was revealed that the sons will benefit from the deal signed by the fathers. Within weeks of the hiring being promoted directly by the President and the Secretary of Commerce, a company partially owned by Donald Trump Jr. and Eric Trump and operating out of Trump Towers, purchased approximately 20% of a corporate body associated with the project in Kazakhstan.

Around the same time, another investment company controlled by the Lutnick family and run by their sons Brandon and Kyle Lutnick, assisted in the fundraising process that made the deal difficult. According to the report in the New York Times, procedures of this type are expected to generate millions of dollars for the company.

The deal with Kazakhstan was finally signed 6 days after the investment involving the Trump sons and their partners, which was not made public at the time.

According to the American newspaper, this arrangement is not an unusual case. One or both families have financial ties to at least 14 companies that are actively working with the federal government on strategic mining deals. All 14 of these companies have either benefited from offers of direct financial assistance from the Trump administration, or have open licensing applications before them at the Commerce Department, which Lutnick oversees. The total amount of federal funding the administration has awarded or is considering awarding to these companies exceeds $8.9 billion, according to public statements by the companies and the federal government.