Attorney General Bonta Issues Statement on Trump Administration Tariff Flip-Flop

OAKLAND — California Attorney General Rob Bonta today issued a statement amid concerns that the Trump Administration or people associated with the administration engaged in insider trading or other illegal financial transactions, informed by advanced knowledge of non-public information regarding the President’s changes of tariff policy. On April 9, President Trump's decision to ease most tariffs caused the financial markets to predictably skyrocket after crashing and undergoing wild fluctuations since early April, when global tariffs were announced. 

“The President’s actions and potential profit by associates from the chaos and turmoil that cost Americans trillions of dollars is deeply troubling. California consumers and business are concerned amid this uncertainty — as the fifth largest economy in the world, California understands global trade policy is not a game,” said Attorney General Bonta. “From wreaking havoc on 401(k)s and pension funds to making everyday items more expensive — this game he’s playing has very real consequences for everyday Californians. The possibility that the chaos created by the President could also be lining the pockets of his buddies, donors, or family members is even more unconscionable. My office is monitoring the situation and expects the appropriate agencies to investigate potential insider trading."