In a Truth Social post on Sept. 15, 2025, US President Trump reiterated his proposal that public companies in the US should no longer be required to report earnings quarterly, but instead every six months. According to Trump, shifting to semi-annual reporting would reduce costs and allow corporate leaders to concentrate more on long-term strategy than on short-term market expectations.
The idea isn’t new. Trump first floated the proposal in 2018, claiming business leaders had told him that less frequent reporting would increase flexibility and cut expenses. While the Securities and Exchange Commission (SEC) studied the proposal at the time, it was never adopted. Now, with Trump again running for office and criticizing what he calls a short-term corporate mindset, the issue is back on the table.
Corporate pressure vs. investor transparency
Executives like Elon Musk, BlackRock’s Larry Fink and former Morgan Stanley CEO James Gorman have also criticized quarterly reporting, arguing it pressures companies to prioritize short-term performance over long-term value creation. Reducing reporting frequency, they argue, could encourage innovation and sustainability. However, critics warn that the change would diminish transparency and potentially harm investors. Quarterly disclosures are considered essential for fair pricing of stocks and timely identification of financial or operational risks. Less frequent reporting might give companies more room to maneuver, but it also increases the risk of unpleasant surprises for shareholders.
Political and strategic motives
Analysts suggest Trump’s push may be rooted in his broader skepticism of regulatory oversight and his desire to position himself as pro-business. Referencing China’s long-term planning approach, Trump argues that a hyperactive reporting culture disadvantages US firms.
Any change would require SEC approval – a politically sensitive move that could trigger debate among regulators, corporate leaders and investor advocates.
