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2w ago

Trump's Tariff Reversal Sparks Insider Trading Investigation Calls

Congressional Democrats demand an ethics probe into whether Trump administration officials or allies profited from non-public information tied to abrupt tariff policy changes.

Adam Schiff is demanding an insider trading probe into Donald Trump's tariffs announcement.
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Senate Judiciary Committee member Sen. Adam Schiff speaks in the Hart Senate Office Building on Capitol Hill on January 15, 2025, in Washington, D.C.
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Overview

  • President Trump paused most tariffs on April 9, leading to a swift stock market rebound, including a 9.5% single-day gain for the S&P 500.
  • Trump's social media posts, including 'THIS IS A GREAT TIME TO BUY!!!,' shortly before the tariff announcement, raised concerns about potential insider trading.
  • Democratic lawmakers, led by Adam Schiff and Ruben Gallego, have called on the Office of Government Ethics to investigate possible financial misconduct within the Trump administration.
  • Tesla stock, among others, saw significant gains following the tariff pause, prompting scrutiny of potential benefits to Trump's associates, including Elon Musk.
  • Congressional Democrats are also urging transparency from members of Congress who may have traded stocks during the volatile period, with calls for stricter rules on insider trading.