During the four years that Donald Trump serves his second term as president, real estate developers will be working on planning, building and opening a total of 19 Trump-branded projects around the globe, according to CREW’s review of press releases, news reports and information made available by the Trump Organization. In eight foreign countries, these developers will seek subcontractors, buyers and permits from the government, creating massive conflicts of interest for Trump, as he weighs American foreign policy against his own financial incentives.

The developments that are underway—being planned, constructed, sold and delivered to buyers—will nearly triple the number of Trump properties operating abroad, though some have been in the works for years. As much as Trump’s conflicts during his first term pushed beyond the bounds of both the Constitution and long-held ethics norms, the aggressive foreign expansion creates new and unprecedented ethics issues.

In each country where Trump has business interests, especially those where he has new properties under development, he will know that decisions he makes as president could impact his bottom line. Likewise, foreign officials in those countries will have an opportunity to provide special treatment to the president of the United States, or to punish the president for decisions they don’t like. 

Ten days before Trump took office, the Trump Organization released an ethics plan for his second term. The document omitted a key limitation to which the Trump Organization had been subject eight years prior: It did not include a ban on new foreign deals. As a result, the president’s namesake private company, which he still owns and profits from, is free to do business in foreign countries while Trump is in office.