Overview

• Sean Duffy, U.S. Transportation Secretary, sold stocks in nearly three dozen companies on February 11 and 13, 2025, just before a major tariff announcement by President Trump.
• The sales, valued between $75,000 and $650,000, occurred near the stock market’s peak, preceding a significant market downturn tied to the tariffs’ details revealed on April 2.
• Duffy’s spokesperson claims the trades were managed by an outside account manager in accordance with an ethics agreement, with no input from Duffy on timing.
• Ethics experts are examining whether the trades violated the STOCK Act, which prohibits government officials from using nonpublic information for financial gain.
• Duffy’s involvement in drafting a 2019 trade bill similar to Trump’s tariff policy has heightened scrutiny of his role and timing of the stock transactions.