The Blubber

New York Attorney General Letitia James’ office is in the early stages of reviewing whether insider trading may have occurred in connection with President Trump’s recent 90-day pause on customized “reciprocal” tariffs, announced last week.

The review is still preliminary and has not yet developed into a formal investigation, James’ office confirmed to The Post on Tuesday.

It remains unclear whether specific individuals or companies are currently under scrutiny. The initial report of the review came from CNN.

On the morning of April 9—just before U.S. markets opened amid steep losses driven by uncertainty over tariffs—Trump posted on Truth Social that it was a “GREAT TIME TO BUY.”

Later that day, he announced the temporary suspension of the customized tariff rates, though a 10% baseline duty on most imports remained in place.

Markets responded with a dramatic rally: the Dow Jones Industrial Average jumped 7.9%, the S&P 500 soared 9.5%, and the Nasdaq surged 12.2%.

New York Attorney General Letitia James, who has frequently sparred with Trump in the past. (Paul Martinka)

One major exception to the pause was China, on which Trump imposed a 125% duty—bringing the total tariff on most Chinese goods and services to 145%. At the same time, the administration temporarily lowered tariffs on certain electronics imported from China, pending a broader supply chain review.

Some Democratic lawmakers, including Sen. Elizabeth Warren (D-Mass.), have raised concerns that individuals close to the White House may have profited from advance knowledge of the tariff pause.

“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 told CNN.

President Trump rolled out the sweeping tariff package—described as the most aggressive in a century—on what he called “Liberation Day,” before announcing the 90-day pause for most of the measures. (AFP via Getty Images)

As an elected Democrat, James has wide-ranging authority under New York’s 1921 Martin Act to investigate potential securities fraud.