New York Attorney General Letitia James is in the early stages of examining whether confidential information was improperly used for financial gain following President Trump’s recent announcement to delay certain tariffs for 90 days.
James’ office confirmed to The Post on Tuesday that while the matter is being looked into, it hasn’t yet escalated to a formal investigation.
At this point, it’s not clear if the inquiry targets particular companies or individuals, according to the initial report from CNN.
Just before trading began on April 9—while investor anxiety over possible tariffs was sending markets into a steep decline—Trump posted a message on Truth Social encouraging investors, saying it was a “GREAT TIME TO BUY.”
Later that same day, Trump revealed that the rollout of the individualized reciprocal tariff structure would be delayed, although the standing 10% duty on most imported goods would still apply.
The news triggered a major rally on Wall Street. The Dow soared 7.9%, the S&P 500 jumped 9.5%, and the Nasdaq saw an increase of 12.2%.
However, Trump made it clear that the delay wouldn’t apply to China. He imposed a steep 125% tariff on Chinese products, effectively raising the total import duty on many items from China to 145%. Still, there was a temporary reduction in tariffs for Chinese electronic goods while the administration reviewed the broader supply chain.
Critics on the left, including Senator Elizabeth Warren of Massachusetts, have voiced concern that those close to the administration may have profited by acting on prior knowledge of the tariff delay.
“It’s entirely appropriate to have an investigation to make sure that Donald Trump, Donald Trump’s family, Donald Trump’s inner circle, didn’t get advance information and trade on that information,” Warren said in an interview with CNN.
Under the authority granted by New York’s Martin Act of 1921, James has sweeping powers to investigate allegations of securities fraud.
This potential review marks another chapter in the ongoing battles between James and Trump.
In late 2023, she filed a broad civil lawsuit accusing the Trump Organization of manipulating property values—overstating them to secure favorable business deals, and undervaluing them for tax benefits.
Then, in February of last year, a state judge ruled that Trump must pay $354.8 million in penalties, plus accruing interest.
That ruling is currently under appeal.
Trump responded to James’ legal action by accusing her of racial bias, labeling her pursuit as a “witch hunt,” and charging that the lawsuit was driven by partisan motives.
{Matzav.com}