Trump pushes for semiannual earnings reports, abandoning quarterly reviews

Donald Trump, from the White House on Monday, said companies in the U.S. should stop filing earnings reports every quarter.

He announced the plan directly on Truth Social, saying the new idea, reporting every six months instead of four times a year, would cut costs and help executives run businesses without being distracted by short-term targets.

“Subject to SEC Approval,” Trump posted, “Companies and Corporations should no longer be forced to ‘Report’ on a quarterly basis… but rather to Report on a ‘Six (6) Month Basis.’” He added, “Did you ever hear the statement that, ‘China has a 50 to 100 year view on management of a company, whereas we run our companies on a quarterly basis???’ Not good!!!”

The rules today say all U.S.-listed companies must report earnings every three months, though they aren’t forced to give forecasts. Trump wants that changed. It could be done by either the Securities and Exchange Commission or through a law passed by Congress.

Trump linked his idea to how companies in China operate, but what he didn’t mention is that China’s public firms actually file earnings reports just as often, quarterly, semiannual, and annual. In fact, some Chinese rules are even stricter than those in the U.S.

The exception is Hong Kong, where companies file earnings twice a year. That’s closer to what Trump is now proposing.

Trump ties reporting change to trade talks, TikTok, and interest rate cuts

Trump’s push would also make U.S. practices look more like what happens in the UK and EU, where companies file twice a year but can still add quarterly updates if they want. And while the idea sounds new, it’s not.

Back in 2018, Warren Buffett and Jamie Dimon argued in a Wall Street Journal op-ed that quarterly guidance should end. They didn’t go as far as Trump by calling for an end to quarterly earnings reports themselves.

More recently, Norway’s sovereign wealth fund proposed semiannual reporting so companies could stop focusing on short-term goals and focus on long-term growth.

Trump didn’t stop with earnings. On the same Truth Social thread, he said, “The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly.”

He said a deal was reached to save “a certain” company loved by American young people. He didn’t say the name, but it’s clearly TikTok. “They will be very happy!” he posted. He also said he’d speak with Xi Jinping on Friday, adding, “The relationship remains a very strong one!!! President DJT.”

That deal may play into Trump’s broader trade push. People familiar with the discussions said Trump could be using TikTok to score a tariff cut from China by 10% or more. Neo Wang, China strategist at Evercore ISI, said Beijing might “be more than happy to satisfy Trump’s terms on TikTok” if that gets the tariff reduction.

Trump demands rate cut as Fed prepares two-day meeting

ByteDance, TikTok’s parent company based in Beijing, is under pressure. They have a deadline, Wednesday, to reach a deal with U.S. authorities to keep TikTok running in the States. The U.S. wants control of the app’s algorithm.

China placed that same algorithm on its export-control list, meaning no one can sell it without Beijing’s approval. Trump has already extended that deadline three times in 2025. On Sunday, he told reporters the talks were “going fine” and that TikTok’s fate depends on how Beijing responds.

Trump also turned his attention to interest rates. In all caps, he posted, “’Too Late’ MUST CUT INTEREST RATES, NOW, AND BIGGER THAN HE HAD IN MIND. HOUSING WILL SOAR!!!”

That came just before the Federal Reserve starts its two-day meeting on Tuesday. The Fed is expected to announce a rate cut on Wednesday.

Meanwhile, as Cryptopolitan reported that China has been trying for two months to get Trump to visit. If it happens, it would be his first official visit to China since 2017. But nothing’s locked in yet. A decision on the visit will depend heavily on what happens in Madrid, where talks are happening now.

Chen, from The Asia Group, warned that things could get worse if Beijing thinks Washington is being “disrespectful” during the talks. The Chinese government is closely managing how its citizens view the U.S., and any misstep could cause delays in the larger diplomatic plans.

Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.