(Bloomberg) -- Jared Kushner, the son-in-law of President-elect Donald Trump who is expected to be a key adviser in his administration, is prepared to resign as chief executive officer of his family's real estate company to comply with government ethics standards, his lawyer said.
Kushner would also divest “substantial assets” and ‘'recuse from particular matters that would have a direct and predictable effect on his remaining financial interests'' if he were to join the incoming administration, Jamie Gorelick, a lawyer with WilmerHale, said in an e-mailed statement.
The New York Times reported Saturday that Kushner is closing in on a deal to redevelop the Kushner Companies' flagship office building, at 666 Fifth Avenue in New York, in a joint venture with Anbang, a Chinese insurance company with close ties to that country's government that has been buying up marquee U.S. commercial properties.
Trump has made China a frequent target of his attacks over the fairness of trade relationships. He has nominated trade-related officials who the Communist Party's Global Times newspaper said would form an “iron curtain” of protectionism. Trump further angered China by speaking directly with the president of Taiwan, which China considers a breakaway province, in a break with decades of diplomatic protocol.
Kushner and his wife Ivanka Trump, currently residents of New York City, have bought a home in Washington. Like Trump, Kushner took his father's empire of middle-class apartments and parlayed it into investments in Manhattan, before becoming a key player in his father-in-law's presidential campaign.
To contact the reporter on this story: Caleb Melby in New York at cmelby@bloomberg.net. To contact the editors responsible for this story: Bernard Kohn at bkohn2@bloomberg.net, John Voskuhl
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