New York Attorney General Letitia James is in preliminary stages to consider whether President Donald Trump’s recent mutual tariff suspension includes insider trading violations, Fox News Digital confirmed.
Trump’s longtime political enemy, James is only in the preliminary stage to investigate whether Trump or people nearby him had prior knowledge of the tariff decision that surged the stock market. The Attorney General’s office confirmed a preliminary examination of the issue against Fox News Digital Wednesday morning.
Customized mutual tariffs on countries that have historically set up trade barriers on US goods came into effect on April 9th.
Before Trump suspending mutual tariffs, he said, “It’s cool! Everything’s going to be fine. America will be bigger than ever!” and “This is the best time to buy!!! DJT.”
He announced a 90-day suspension on mutual tariffs later that day in a surprising move that helped to significantly boost our market.
However, China was not part of the tariff suspension, and instead suffered a hit with a higher 125% tariff after retaliating with its own tariff on the US, maintaining a 10% baseline tariff levelled to the country at the beginning of April.
NY AG Letitia James skewed a “uncomfortable” statement after Trump’s victory: “Complete rog arrogance”
President Donald Trump and New York State Attorney General Letitia James. James’ office is conducting a preliminary screening of insider trading that could be linked to Trump’s April tariff announcement, which sparked a historic stock market rally. (Getty Images)
Trump says anyone who “goes off the hook” because of “unfair” trade balances swears.
The Dow rose 7.9%, the S&P 500 rose 9.5%, and the Nasdaq rose 12.2% on the same day.
Some lawmakers have raised concerns about possible insider trading. Sen. Elizabeth Warren (D-Mass.) said CNN’s Jake Tapper should be investigated by the Securities and Exchange Commission in “a union state.”
“It is perfectly appropriate to do an investigation to ensure that the insider of Donald Trump, the family of Donald Trump, did not receive any prior information and transactions regarding that information,” Warren said.
Senator Adam Schiff of D-Calif and Ruben Gallego of D-Ariz wrote a letter Thursday to Chief Chief of the White House Susie Wiles and trade representative Jamieson Greer, calling for an investigation into potential insider trading.
President Donald Trump. (Get McNamee/Getty Images)
The White House has returned to comments provided to Fox Digital amid insider trading allegations that Democrats are “playing partisan games.”
Dems ”partisan game after Trump’s enemy Schiff asks for an insider trading investigation over tariffs
“It is the US president’s responsibility to make markets and Americans reassure the markets and Americans about their economic security in the face of the fears of non-stop media,” White House spokesman Kush Desai said in a comment to Fox Digital on Thursday. “Democrats have been opposed to China’s fraud for decades, and now they’re playing a partisan game rather than ultimately cornering China to celebrate President Trump’s decisive action yesterday.”
New York Attorney General Letia James, a former city councillor and public defense counsel in New York, began running towards the New York Attorney General during the 2018 cycle. (Michael M. Santiago/Getty Images)
James, a former city councillor and public defense counsel in New York, began running towards the New York Attorney General during the 2018 cycle, but emphasized that if she was elected, she would actively pursue legal accusations against Trump and vow to expose the “con man” following her victory that year.
James reported in November 2024 that her office took on nearly 100 legal challenges against Trump in his first administration and added that after the second presidential victory last year, he would continue to challenge him in court to “define the rights of New Yorkers and the rule of law.”
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“We didn’t expect this outcome, but we’re ready to respond to this outcome. And since we were here before, my office has been preparing for a few months,” James said after winning the Trump election in November 2024. From that responsibility. ”
Under the Martin Act of 1921, the New York Attorney General has broad authority to investigate possible securities fraud.
The law allows the office to summon witnesses, demand documents, and file civil or criminal cases without proof of intent to fraud.
Jasmine is a writer for Fox News Digital and is a New Orleans-based military spouse. Stories can be sent to jasmine.baehr@fox.com
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