California Attorney General Rob Bonta expressed concern about the recent tariff policy changes by the Trump Administration. His statement comes amidst worries that the administration or its associates might have used insider information for potential illegal financial transactions. On April 9, President Trump's decision to ease most tariffs led to a sharp increase in the financial markets, after several volatile days following the initial global tariff announcement in early April.
Attorney General Bonta voiced his apprehension regarding the possible advantages gained by those connected to the policy shift. “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,” he said.
Bonta emphasized the real-world impact of these policies on Californians' finances, stating, “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.” He assured that his office is monitoring developments and expects relevant agencies to investigate any insider trading activities.