Mick Mulvaney makes the announcement

Trump floated this at the last G7 so it's not a surprise, but it's still a ridiculous conflict of interest at a Trump property that's struggling.

Mulvaney said the White House used the same set of criteria that previous administrations used, and sent an advance team to 10 locations across the country.

"The Doral was far and away... by far and away, the best facility to host this event," he said.

The president "will not be profiting here." He said Doral will do the event "at cost."

It will take place June 10-12.

Mulvaney also said that Putin may be invited.