Richard Painter, former White House ethics attorney, suggests opening an investigation to determine who was aware of President Trump’s plan on tariffs and whether anyone made trades based on that information.

On Wednesday, Donald Trump halted the significant tariffs he had recently imposed on numerous countries. Following the announcement, shares on Wall Street saw a sharp increase.

Prior to the announcement, Trump posted on Truth Social, “THIS IS A GREAT TIME TO BUY!!!”

“The president has created an appearance of market manipulation and potential insider trading by commenting on buying and selling stocks simultaneously with discussions on US trade policy,” Painter stated.

When asked if this was wrong or possibly unlawful, Painter emphasized that it was unprecedented.

“No previous president has ever commented on specific stocks to buy or sell. This has never occurred when an administration is about to announce such significant changes to economic policies,” Painter remarked.

He also noted the long-standing issue of conflict of interest in US politics, with elected officials believing “they can trade in the stock market while making decisions that affect the stock market.”

“This is a reason why many people distrust our government,” Painter added.

Painter also recommended that Trump avoid an economic crisis and an all-out trade war, which would lead to an economic crisis.