The Trump family business has agreed to a voluntary ethics agreement that would ban it from striking direct deals with foreign governments after inauguration, but would give it a free hand to pursue ventures with private foreign companies.

The company plans to “voluntarily donate to the U.S. Treasury all profits it receives from foreign government patronage that the company is able to identify at its hotels and si

U.S. President-elect Donald Trump's company said Friday it has retained William Burck, a managing partner of U.S. trial firm Quinn Emanuel Urquhart & Sullivan and longtime Republican insider, as its outside ethics advisor.

Trump's company says it won't strike direct deals with foreign governments after inauguration, but can make deals with private foreign companies.

The Trump family business released a voluntary ethics agreement Friday that allows it to strike deals with private foreign companies, a move that could help outside actors try to buy influence with the new administration.