The current law, codified at 5 U.S.C. §7353(a), prohibits any federal officer or employee from soliciting or receiving any gift of any amount from a prohibited source, that is, from someone who is seeking action from, doing business with, or is regulated by one's agency, or whose interests may be substantially affected by the performance or nonperformance of one's official duties. Under these regulations, the President is expressly exempt from the broad restrictions on receiving or accepting gifts from prohibited sources or gifts given because of his official position, and thus may accept gifts from the general public, even from "prohibited sources," or gifts given because of his official position, as long as the President does not "solicit or coerce" the offering of gifts from such sources, nor accept a gift in return for an official act. §2635.202(c)(2). Gifts coming to the White House that are not intended for the President or First Lady personally, however, but rather are given with the intent to be made for the "White House," or otherwise made to the government of the United States, and personal gifts not retained by the President or First Lady, are catalogued, distributed, or disposed of by the United States. Gifts From Foreign Governments

The President and all federal officials are restricted by the Constitution, at Article I, Section 9, clause 8, from receiving any "presents" from foreign governments, kings, or princes, without the consent of the Congress. Bribery, Illegal Gratuities

The President and all federal officials are subject to the restrictions of the bribery law at 18 U.S.C. Financial Disclosure

In addition to restrictions on the receipt of gifts, the President is required to publicly disclose personal financial information, including personal gifts over minimal amounts ($350 as of this writing) which have been received by him and his immediate family.
This report addresses provisions of federal law and regulation restricting the acceptance of personal gifts by the President of the United States.
Although the President, like all other federal officers and employees, is prohibited from receiving personal gifts from foreign governments and foreign officials without the consent of Congress (U.S. Const., art. I, §9, cl. 8), the President is generally free to accept unsolicited personal gifts from the American public. Most of the restrictions on federal officials accepting gifts from "prohibited sources" (those doing business with, seeking action from, or regulated by one's agency) are not applicable to the President of the United States (5 C.F.R. §2635.204(j)), although the President may not solicit gifts from such sources. The President, in a similar manner as other federal officials, may also receive unrestricted gifts from relatives and gifts that are given on the basis of personal friendship. When personal gifts accepted by the President or his immediate family exceed a certain amount, those gifts are required to be publicly disclosed in financial disclosure reports filed annually by the President. 5 U.S.C. app., §§101(f)(1), 102(a)(2). The President remains subject to the bribery and illegal gratuities law which prohibits the receipt of a gift or of anything of value when that receipt, or the agreement to receive such thing of value, is connected in some way to the performance (or nonperformance) of an official act.