Trump made another 1,000-plus stock transactions including two involving common shares of Coupang, which is listed on the New York Stock Exchange.
Trump sold Coupang shares worth between US$1,001 and $15,000 on June 3, then bought shares worth between $15,001 and $50,000 on June 24.
Based on his previous filings with the USOGE, Trump has repeatedly traded Coupang shares since last year. He bought or sold shares 18 times between October and May, leaving him with an estimated Coupang holding worth up to $130,000.
The U.S.-based company came under scrutiny after a massive data breach last fall, straining ties between Seoul and Washington amid trade-related negotiations. South Korea imposed a hefty fine on Coupang, while the company lobbied in Washington, claiming that it had been unfairly targeted.
That was soon followed by a U.S. House committee accusing South Korea of taking "discriminatory" measures against Coupang and other American-owned businesses, claiming that Coupang has been a "consistent target."
Against this backdrop, Trump's continued trading of Coupang shares could raise fresh questions about potential conflicts of interest, especially as the company remains at the center of a controversy that could affect bilateral relations between the allies.
Foreign media outlets, including CNN and The Wall Street Journal, also pointed out that Trump made a series of trades in energy and defense stocks, including Chevron, Exxon Mobil, Lockheed Martin and Northrop Grumman, several times in June alone, which have fluctuated amid the prolonged conflict in Iran, raising concerns about potential conflicts of interest.
A U.S. federal ethics law enacted in 1978 does not impose specific conflict of interest requirements on the president. However, previous presidents voluntarily divested assets that could create conflicts of interest or placed them in blind trusts, making Trump the first president since the law's enactment not to follow that tradition.
The White House has said Trump has no influence over his investment accounts and that his portfolio is independently managed by third-party financial institutions.
AJP Takeaways
• Trump traded Coupang shares twice in June, selling shares worth $1,001 to $15,000 on June 3 and buying shares worth $15,001 to $50,000 on June 24.
• Trump has repeatedly traded Coupang shares since last year, with 18 transactions between October and May and an estimated holding worth up to $130,000.
• The trades could raise conflict of interest questions, as Coupang remains involved in a dispute with South Korea that could affect relations between Seoul and Washington.
Copyright ⓒ Aju Press All rights reserved.
