President-elect Donald Trump lays out plans during press confere - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

President-elect Donald Trump lays out plans during press conference

(Source: KFVS) (Source: KFVS)

President-elect Donald Trump is holding his first formal press conference since he won the presidency in November.

During the press conference, Trump announced his plans to put all his business assets in a trust and hand control of his company to his two adult sons and a longtime business executive to diminish concerns about conflicts of interest.

A lawyer who worked with the Trump Organization on the plan says Trump is planning to make the change by Inauguration Day, relinquish control over the Trump Organization and isolate himself from the business.

The lawyer says the company will do no new foreign deals but can pursue domestic ones, and says that the Trump Organization will appoint an ethics adviser to its management team who must approve deals that could raise concerns about conflicts.

His tax attorney said that Trump will donate all proceeds from foreign business interests dealing with hotels will be donated so "the American people profit."

When a reported asked him about his plans regarding the Affordable Care Act, Trump said as soon as his secretary is approved, he'll be filing a plan to "almost simultaneously" repeal and replace Obamacare. He promised it would be more affordable than the current plan.

Trump also addressed his plan to build a wall at the border between the United States and Mexico. He said the wall would be built and construction will begin soon. He said that in order to get it started, Mexico will pay for the wall, and the money will be reimbursed.

Just hours before the new conference, Trump took to Twitter to deny any connection to Russia.

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Copyright 2017 KFVS. The Associated Press contributed to this report. All rights reserved.

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