President Donald Trump used his Truth Social platform Monday to call for a sweeping change in U.S. corporate reporting standards, arguing that quarterly financial reporting puts unnecessary pressure on businesses and distracts executives from long-term growth.
Trump suggested that companies should be required to report results every six months rather than every three.
“Subject to SEC Approval, Companies and Corporations should no longer be forced to ‘Report’ on a quarterly basis (Quarterly Reporting!), but rather to Report on a ‘Six (6) Month Basis,’” Trump wrote.
The president claimed such a change would “save money, and allow managers to focus on properly running their companies,” while reducing what he described as a short-term fixation by Wall Street and corporate boards.
He also contrasted the U.S. system with that of China, saying, “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!!!”
Under current Securities and Exchange Commission (SEC) rules, publicly traded companies must file Form 10-Q with investors and regulators every quarter, in addition to an annual report on Form 10-K. Proponents argue that quarterly reporting ensures transparency and helps maintain investor confidence.
Critics, however, say the practice incentivizes short-term thinking, pushing executives to prioritize immediate profits over long-term strategy. Trump’s remarks echo past debates among business leaders and policymakers, some of whom have urged a shift to semiannual reporting in order to foster more sustainable corporate growth.
While Trump’s post stops short of detailing a specific policy plan, his statement underscores a longstanding tension in U.S. markets over how often companies should disclose financial performance. Any move to change reporting requirements would require SEC rulemaking, a process that involves public comment, legal review, and potential pushback from investors and regulators.
The SEC has occasionally revisited the issue, most recently in 2018, when Trump in his first term as president called for a review of quarterly reporting rules after meeting with business leaders. At the time, the Commission opened a request for public comment but did not enact major reforms.