Trump insists no conflict of interest with his business empire

President-elect Donald Trump waves to the crowd as he leaves the New York Times building following a meeting, Tuesday, Nov. 22, 2016, in New York. AP Photo

WASHINGTON—Donald Trump said Tuesday his presidency would not be marred by conflicts of interest stemming from his business empire, but he was vague on what he would do to ensure this.

The issue of Trump reconciling his White House duties while owning billions in assets around the world has been a key concern since he won the presidency on November 8.

“In theory I could run my business perfectly and then run the country perfectly. There’s never been a case like this,” The New York Times quoted the real estate tycoon as saying in an interview.

“I’d assumed that you’d have to set up some type of trust or whatever and you don’t,” Trump said.

But he added, “I would like to do something” to separate his two areas of responsibility.

Trump has said so far that he would have his children take over his business.

READ: Ivanka Trump’s gold bangle jangle: Conflict of interest?

American ethics law is lenient here: Trump is not required to give up his business portfolio.

READ: Trump makes transition to power a family affair

The Constitution does state that no one holding federal office can receive a gift or “emolument” from a foreign government. But this does not mean they cannot do business with private partners overseas.

Trump said in the interview that in theory he can keep signing checks at his company but that he is “phasing that out now” and turning it over to his children.

Trump also said a new hotel he owns in Washington is probably worth more now that he is president-elect. He said his brand is now “hotter.”