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Donald Trump will not sell his business nor place his assets in a blind trust while serving as president, lawyers involved in the negotiations said Wednesday ahead of a long-awaited news conference.

Instead, his company will not enter into new foreign deals and will appoint an ethics adviser who must approve any new domestic deals in writing, according to the ethics arrangement announced Wednesday morning ahead of Trump's press conference.

The lawyers also promised that Trump's businesses and assets will be put into a trust for the duration of the presidency and added he will have "no involvement whatsoever" in the businesses.

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