Donald Trump said he has signed all the necessary papers to turn his businesses over to his sons. His attorney Sheri Dillon presented a huge stack of documents related to business transfer and management that Trump says will “isolate” him from management of his company and assure the American people that his actions as president are for the American people, not his businesses. All profits from foreign diplomats staying in Trump’s hotels in the US will go to the US Treasury. Trump said he will have no opportunity to take advantage of his Presidential power for personal gain, adding that there will be no conflict of interest between Trump the President and Trump the manager of the Trump Group.

Trump warned American companies who have moved their production overseas that their products will incur heavy import taxes returning to the US. He criticized the pharmaceutical industry for high drug prices and said he will set new regulations on drug bidding.

Another topic mentioned at the press conference was the construction of a wall along the United States' border with Mexico. Trump said that after he is sworn in, he will begin negotiations to force Mexico to directly pay for the construction or indirectly through higher taxes on products exported to the US. He will also reconsider the North American Free Trade Agreement (NAFTA).

British newspaper the Guardian reported on Wednesday that although Trump has agreed to transfer business control to his sons, he remains the owner of the Trump Empire. Fred Wertheimer, President of “Democracy 21”, a Washington watchdog, said Trump, as the top owner, will still have influence over his sons in business management.