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Eric Trump vs Jen Psaki feud intensifies over report on China trip, ‘I intend to sue…’
Eric Trump refuted claims regarding his business ties with ALT5 and China, asserting he has no interests in the country.
Eric Trump, the son of President Trump, on Friday announced his intention to file a lawsuit against MS NOW, previously known as MSNBC, and host Jen Psaki. This decision follows a monologue on her program that raised questions about whether his business interests, coupled with accompanying his father on a significant trip to China, constituted a conflict of interest.
During her show "The Briefing," Psaki mentioned that ALT5 Sigma, a fintech company based in Las Vegas where Eric Trump previously held the position of board observer, is pursuing a potential agreement with a Chinese computer chip manufacturer. This deal aims to establish AI data centers and various other AI-related initiatives linked to the Chinese government. She referenced information from the Financial Times.
“I intend to sue @jrpsaki and @MSNOWNews over the below clip,” Trump's son stated on X. “To be clear: Contrary to her monolog and blatant lies, I have NEVER been on the board of ALT5 — not now, not ever.”
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Here's what Eric Trump said on China trip
Eric Trump's name and listing were removed from ALT5's leadership webpage, as reported by Bloomberg late last month. However, he stated on Friday that “any person with basic access to Google and willing to open a company’s annual report or proxy statements would know this.”
The executive vice president of the Trump Organization further asserted that he has had “zero involvement in any merger discussions involving any public entity”. “I have zero business interests in China. No properties, no investments, nothing!”
“I joined this trip for one reason: as a loving son who adores my father and wouldn’t miss being by his side for this incredible moment. During the bilateral talks @LaraLeaTrump and I went to the Great Wall of China,” he mentioned, in reference to his spouse, Lara Trump.
On Thursday, Eric Trump and his spouse were observed departing from Air Force One alongside various other U.S. business executives. This group comprised Tesla's CEO Elon Musk, Apple’s CEO Tim Cook, BlackRock's Chair and CEO Larry Fink, Boeing's CEO and President Kelly Ortberg, Citi's Chair and CEO Jane Fraser, Nvidia's CEO Jensen Huang, and David Solomon from Goldman Sachs.
Throughout his two terms, Trump's company has faced extensive scrutiny, with detractors alleging that the POTUS has leveraged his time in office to benefit his family and their business ventures.
Jen Psaki hits back at Eric Trump
On Friday night, Jen Psaki of MS NOW dedicated a segment of her episode of The Briefing to fact-checking Eric Trump, who had threatened to initiate legal action against her and the network regarding a report from Thursday concerning his business interests.
“Today, the adult son of the President of the United States, Eric Trump, came after us on social media and accused us of lying,” the former Biden press secretary informed her audience.
“Specifically, Eric took issue with us describing him as a member of the board of… a company called ALT5.”
Psaki also guided viewers through what she referred to as the "complicated" history of Trump's formal association with the company, highlighting that ALT5 had earlier declared Trump would be part of its board of directors and that, at one time, SEC filings and the company website identified him as a director.
“In subsequent filings with the SEC, Eric was designated as an ‘observer’ on the board—a role that typically means you cannot cast a vote at board meetings, but you are able to attend them,” she explained.
However, Psaki contended that the more significant issue was ALT5’s close ties with World Liberty Financial, the Trump family cryptocurrency firm that Eric co-founded.
Trump's participation at the Nasdaq opening last year coincided with ALT5 commemorating its acquisition of a 7.5 percent share in World Liberty Financials' token supply, a transaction valued at $1.5 billion.
“Eric, of course, says that he has no business interests in China at all, and that he joined his dad’s official trip there for one reason and one reason alone: as a loving son who adores his dad,” Psaki stated. “I’ll let you be the judge.”
