Donald Trump won the White House in part on a promise to rewrite the rules of global trade, stemming the flow of foreigners coming to the United States and blue-collar jobs flowing out.
But he seems unlikely to change one piece of that trade that is helping to substantially remake Boston: overseas investment in US real estate.
Billions of dollars in global capital has sluiced into Boston’s real estate market in recent years. That money has fueled blue-collar construction jobs of the sort the president-elect promises to create by the millions. Yet it has also financed many of the city’s newest luxury towers that, to some, are symbols of the deepening inequality behind the country’s economic discontent.
Trump, though, has deep experience with foreign capital on real estate ventures. He has worked with many international banks and investors on projects in the United States and overseas. His son-in-law, Jared Kushner, raised $50 million for a Trump-branded residential tower he’s building in Jersey City, N.J., through a visa program that provides overseas investors — often wealthy Chinese — a green card in exchange for $500,000 in investment.