Trump Says Conflict-of-Interest Claims Over Public Officials Are "Not Illegal"

[Financial News] U.S. President Donald Trump stressed that recent allegations that his family used his presidency for private gain are "not illegal." He said his family members also have their own "lives."
In an interview with CNBC on the 2nd, Trump said the presidency is so powerful that almost everything his children do is treated as a conflict of interest. In U.S. politics, a conflict of interest refers to a situation in which a public official pursues private gain and loses impartiality in the performance of official duties.
Trump said, "Even if my children buy an eco-friendly truck, they are accused of using inside information." He argued that his children face unprecedented scrutiny because presidential policy affects nearly every part of the economy. Trump added, "I tell my kids to stay away," but said, "they have lives too. You know, they were in business long before I ever thought about running for president."
Under U.S. federal criminal law, a federal official may not take part in government work that could directly or indirectly affect the financial interests of the official, their spouse, their children, or a company they are affiliated with. However, presidents and vice presidents are not subject to the law because their duties affect the U.S. economy as a whole.
The remarks came shortly after the Trump family's asset disclosure on the 30th of last month. In a 2025 financial disclosure report submitted to the Office of Government Ethics (OGE), Trump reported income of more than $2.2 billion last year. That was an increase of more than $1.6 billion from the roughly $600 million he reported in 2024, just before returning to office. Trump, who has been friendly to virtual assets, earned about $1.4 billion from related businesses alone. His biggest source of income was World Liberty Financial, the virtual asset platform co-founded by Trump, Donald Trump Jr., and Eric Trump. Trump emphasized that there was "nothing illegal or wrong" about his earnings from virtual assets.
On the 30th of last month, White House Press Secretary Anna Kelly said in a statement that "the president and his family have never engaged in conflicts of interest and never will." She added, "Every action taken by the president and the government is in the best interests of the American people," and countered that "reports raising this issue are nothing more than tired and false claims repeated by the Democratic Party and the legacy media for the past decade." The White House had previously said that Trump's children were managing the president's business interests, but Trump remains the ultimate beneficiary of the related trust even after taking office.
pjw@fnnews.com Park Jong-won Reporter