Last updated on July 17th, 2023 at 09:39 pm
After Donald Trump criticized Boeing and drove their stock price down, the American people need to ask if Trump is abusing his platform as president-elect for financial gain.
Back in 2013 Trump tweeted that he had bought Boeing stock:
Trump turned around and trashed Boeing on Tuesday morning:
Trump’s transition team claimed that the president-elect sold all his stock in June:
Boeing issued a statement on Trump’s tweet, “We are currently under contract for $170 million to help determine the capabilities of these complex military aircraft that serve the unique requirements of the President of the United States. We look forward to working with the U.S. Air Force on subsequent phases of the program allowing us to deliver the best planes for the President at the best value for the American taxpayer.”
A president-elect who has properly sealed himself and his family off from potential conflicts of interest do not raise these sort of questions, but could Donald Trump be attacking companies like Boeing to lower the stock price, so that the company becomes a good investment for his family or other corporate interests? The answer that Trump sold all of his personal stock is narrow and insufficient, because the American people don’t know the scope of the Trump family, the Trump Organization, and the president elect’s investments.
Would Trump have trashed Boeing if he still owned stock in the company?
These are the kinds of questions about the motives of a president-elect.
What is clear is that Trump is using his platform to interfere with the free market. Donald Trump is putting his thumb on capitalism’s scale and picking winners and losers. The President-elect woke up this morning and decided that Boeing is a loser, so the people who are invested in Boeing either through stocks, or retirement funds lose money.
A decline in the price of Boeing could be good news for Trump, his family, and friends because they can invest at a lower price.
Donald Trump and his Twitter account have the ability to move stocks and markets, and Trump appears to be abusing his platform as president-elect by potentially manipulating a stock price for financial gain.
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