Trump administration informed Wall Street executives about potential tariff deal with India, according to report

The Trump administration has been accused of potentially engaging in insider trading after reportedly tipping off Wall Street executives about the progress of negotiations regarding tariffs with India. According to a report by Fox Business journalist Charles Gasparino, sources revealed that individuals within the Trump White House had informed senior Wall Street executives with ties to the administration about an impending trade agreement with India.

This revelation raised eyebrows as it suggested that Wall Street firms could exploit this privileged information to make lucrative investments on the stock market before the public was made aware of the developments. The potential advantage that these executives could gain from such foreknowledge led to widespread accusations of insider trading.

On social media, Bloomberg reporter Joel Weisenthal expressed concerns not about the potential India deal itself, but about the practice of the White House sharing confidential updates with Wall Street before the general public. He questioned the ethical implications behind why individuals within the Trump administration were providing advance notice to Wall Street executives regarding the status of trade negotiations.

Moreover, Wall Street analyst Gordon Johnson pondered the role of the Securities and Exchange Commission (SEC) in overseeing such interactions. Johnson questioned the legality of Wall Street executives receiving insider information from the White House, implying that favoritism towards the wealthy undermined the regulatory functions of the SEC in ensuring fair and transparent trading practices.

This controversy surrounding the sharing of sensitive information with Wall Street comes in the wake of President Trump’s recent decision to halt tariffs just hours after their imposition, leading to significant gains for billionaire investors in the stock market. Trump publicly lauded the financial success of his billionaire associates, Charles Schwab and Roger Penske, remarking on the substantial profits they accrued as a result of the tariff suspension.

The conspicuous financial gains made by wealthy individuals following Trump’s tariff actions prompted scrutiny from critics, who posited that the president may have intentionally alerted his affluent friends to capitalize on the advantageous market conditions. This series of events triggered accusations of potential market manipulation and insider trading, as detractors criticized the administration for allegedly tipping off well-connected individuals to profit from policy fluctuations.

In response to these allegations, California Democratic Senator Adam Schiff called for a congressional investigation into the circumstances surrounding the timely suspension of tariffs by the Trump administration. Schiff argued that the volatility in market conditions caused by abrupt policy changes presented opportunities for unethical trading practices, emphasizing the need for accountability and transparency in financial dealings involving government officials and Wall Street figures.