Photo by Win McNamee/Getty Images

Even before the recent New York Times bombshell on Trump's taxes, the president's financial entanglements raised the specter of foreign influence.

The big picture: Although Trump has said he turned over day-to-day management of the Trump Organization to his two sons, he hasn't divested from any of his businesses. Revelations from the Times report add to concerns that this state of affairs is shaping elements of Trump's foreign policy.

Catch up quick: National security questions have been raised about:

What's new: The Times report deepens and substantiates this picture, showing that in the president’s first two years in office, "his revenue from abroad totaled $73 million," including "$3 million from the Philippines, $2.3 million from India and $1 million from Turkey" in revenue from licensing deals.

  • It also shows that, in the past, the Trump Organization made over $5 million in a botched hotel deal in Azerbaijan — a project spearheaded by a family with links to Iran’s Revolutionary Guard — and $3 million on a licensing deal for a hotel in the United Arab Emirates.

Trump's business interests in the Philippines, Turkey and India also cloud the relationship between the U.S. and these countries, says Polymeropoulos.

  • "[Philippine President Rodrigo] Duterte and [Turkish President Recep Tayyip] Erdoğan at times act inimical to U.S. interests, yet Trump barely pushes back. And we have tilted decisively toward India under the Trump administration."
  • Even if these policy choices are entirely divorced from Trump’s personal finances, says Polymeropoulos, the “bottom line is that the income just makes anything that happens suspect."

What's next: The post-presidency briefings that will be available to Trump will, among other types of key data, contain highly sensitive economic intelligence, says Wise. "It will give him extraordinary advantages over other competitors."

Go deeper: The national security risks hiding in Trump's debts

Go deeper

The final debate

Trump and Biden at the first debate. Morry Gash-Pool/Getty Image

Watch for President Trump to address Joe Biden as “the big guy” or “the chairman” at tonight's debate as a way of dramatizing the Hunter Biden emails. Hunter's former business partner Tony Bobulinski is expected to be a Trump debate guest.

The big picture: Trump's advisers universally view the first debate as a catastrophe — evidenced by a sharp plunge in Trump’s public and (more convincingly for them) private polling immediately following the debate.

Mike Allen, author of AM
Oct 23, 2020 - Politics & Policy

Trump-Biden venom on display during final debate

Photos: Brendan Smialowski/AFP via Getty Images; Jim Watson/AFP via Getty Images

Joe Biden twice referred to President Trump as "this guy," and Trump called the former vice president's family "like a vacuum cleaner" for foreign money.

Why it matters: The personal venom — during Thursday's final presidential debate, in Nashville — was a reminder that even during a more normal debate, nothing this year is normal.

Oct 23, 2020 - Politics & Policy

Biden to Trump: "I have not taken a penny from any foreign source ever in my life"

Former VP Joe Biden pushed back Thursday against allegations from President Trump, saying he had never profited from foreign sources. "Nothing was unethical," Biden told debate moderator Kristen Welker about his son Hunter's work in Ukraine while he was vice president.

Why it matters: Earlier on Thursday, Hunter Biden's former business partner, Tony Bobulinski, released a statement saying Joe Biden's claims that he never discussed overseas business dealings with his son were "false."