Officials inside U.S. President Donald Trump's White House have reportedly tipped off Wall Street executives about a potentially imminent trade agreement with India, a move that one watchdog group described as further evidence that the administration is "flagrantly enabling insider trading."
Fox Business correspondent Charles Gasparino reported Thursday that unnamed "people inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India." Gasparino cited "senior Wall Street execs" with ties to the Trump White House.
It's not clear what kind of information Trump administration officials provided Wall Street executives or how the information differs from publicly available reporting and White House comments on the U.S.-India trade talks, which have thus far been scant on specific details about the timing or provisions of a potential deal.
U.S. Treasury Secretary Scott Bessent, a former hedge fund manager, told reporters Wednesday that the Trump administration was "very close" to a bilateral trade agreement with India, one of the United States' largest trading partners.
The report of behind-the-scenes communications between the Trump White House and Wall Street executives on a matter that could substantially move financial markets drew immediate alarm.
Emily Peterson-Cassin, corporate power director at the Demand Progress Education Fund, said Thursday that "while we all look at our retirement accounts with alternating relief and horror, Wall Street execs are getting a direct heads-up from the White House about news that could earn them billions on the stock market."
"The White House is flagrantly enabling insider trading and is continuing their long history of embracing Wall Street while throwing everyday Americans to the wolves," said Peterson-Cassin. "These tip-offs also serve as a corrupt shakedown scheme to lure powerful CEOs into Trump's orbit to beg for their own special carve-outs. It is crystal clear that the president doesn't care about fighting for Main Street and just wears economic populism like one of his ill-fitting suits."
Earlier this month, Trump himself sparked insider trading concerns by writing on his social media platform that it was a "great time to buy" stocks shortly before announcing a partial 90-day tariff pause, which sent equities surging.