Donald Trump says he will put aside his business empire

New York: US President-elect Donald Trump tried to stifle concerns that his business empire represents a conflict of interest, promising to put it aside as he packed his Cabinet roster with fellow billionaires on Wednesday.

In one of his trademark tweetstorms, the real estate mogul said that in December, he will reveal a plan to put aside his “great business in total in order to fully focus on running the country”.

He did not say who would take over his multi-billion dollar global property and luxury branding interests, but said his children would be present at a December 15 press conference. “While I am not mandated to do this under the law, I feel it is visually important, as President, to in no way have a conflict of interest with my various businesses,” he tweeted.

Meanwhile, Mr Trump named Wall Street veteran Steven Mnuchin as his treasury secretary and investor Wilbur Ross as commerce secretary.

Mr Mnuchin was a partner in Goldman Sachs before he launched an investment fund backed by Democratic party supporter George Soros.