US Senator Calls for Investigation into Trump for Alleged Market Manipulation
<b>Adam Schiff Calls for Investigation into Profiteering from President’s Tariff Pause</b> U.S. Democratic Senator Adam Schiff has urged Congress to investigate President Donald Trump for potential insider trading and market manipulation in...
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Adam Schiff Calls for Investigation into Profiteering from President’s Tariff Pause
U.S. Democratic Senator Adam Schiff has urged Congress to investigate President Donald Trump for potential insider trading and market manipulation in light of his unexpected reversal on trade policy. This week, global stock markets rallied after Trump announced a pause on tariffs affecting numerous countries.
On Wednesday, Trump declared a 90-day halt on reciprocal tariffs with U.S. trade partners, adjusting duties to a uniform rate of 10%. The exception was China, which saw its tariffs raised to 125% after Beijing increased its tariffs on U.S. goods to 84%. Following this announcement, U.S. stock markets experienced significant gains after a previous downturn.
Just hours prior to the announcement, Trump shared messages on his Truth Social platform: “BE COOL! Everything is going to work out well,” followed by, “THIS IS A GREAT TIME TO BUY!!! DJT,” referencing his media company’s stock ticker. The timing of these posts, along with the tariff pause and subsequent market surge, led to intense speculation online about potential market manipulation. The situation drew further attention when White House aide Margo Martin shared a video of Trump praising financier Charles Schwab for profit made during the market rally.
“Pretty despicable to talk about how much money his friends made because he tanked the market for them. No shame.” — Tom Stone, April 9, 2025
In a video address shared on X, Schiff expressed concern, stating, “Trump removed many of the tariffs he had imposed in this on-again, off-again… kind of policy. This has just wreaked havoc on the markets.” He went on to highlight what he termed the “profound danger” of insider trading occurring within the White House.
“The question is, who knew what the president was going to do? And did people around the president trade stock knowing the incredible gyration the market was about to go through?” he asked. Schiff further accused Trump of corruption, referencing his family's involvement in cryptocurrency trading and the “conflicted self-dealing” of notable ally Elon Musk.
“Is Donald Trump's inner circle illegally profiting off of these huge swings in the stock market by insider trading? Congress must find out.” — Adam Schiff, April 9, 2025
Schiff emphasized the need for Congress to go beyond mere inquiries, stating, “We need to do the oversight necessary to get those answers… We’re going to get to the bottom of this.”
White House Press Secretary Karoline Leavitt previously asserted that the reversal of tariffs was part of Trump's larger negotiation strategy, terming it his "art of the deal." However, the White House has not yet responded to Schiff's request for a congressional investigation.
Other Democrats have also raised alarms about Trump's actions. The House Democratic Financial Services Committee claimed on X, “The President of the United States is literally engaging in the world’s biggest market manipulation scheme,” in response to Trump's “Time to buy” message.
During a House hearing with Trump’s trade representative, Jamieson Greer, Rep. Steven Horsford of Nevada questioned if the tariff pause constituted market manipulation. Meanwhile, Rep. Alexandria Ocasio-Cortez has called for all lawmakers to disclose their recent stock purchases.
“I’ve been hearing some interesting chatter on the floor,” she said on X. “Disclosure deadline is May 15th. We’re about to learn a few things. It’s time to ban insider trading in Congress.”
Emily Johnson for TROIB News
U.S. Democratic Senator Adam Schiff has urged Congress to investigate President Donald Trump for potential insider trading and market manipulation in light of his unexpected reversal on trade policy. This week, global stock markets rallied after Trump announced a pause on tariffs affecting numerous countries.
On Wednesday, Trump declared a 90-day halt on reciprocal tariffs with U.S. trade partners, adjusting duties to a uniform rate of 10%. The exception was China, which saw its tariffs raised to 125% after Beijing increased its tariffs on U.S. goods to 84%. Following this announcement, U.S. stock markets experienced significant gains after a previous downturn.
Just hours prior to the announcement, Trump shared messages on his Truth Social platform: “BE COOL! Everything is going to work out well,” followed by, “THIS IS A GREAT TIME TO BUY!!! DJT,” referencing his media company’s stock ticker. The timing of these posts, along with the tariff pause and subsequent market surge, led to intense speculation online about potential market manipulation. The situation drew further attention when White House aide Margo Martin shared a video of Trump praising financier Charles Schwab for profit made during the market rally.
“Pretty despicable to talk about how much money his friends made because he tanked the market for them. No shame.” — Tom Stone, April 9, 2025
In a video address shared on X, Schiff expressed concern, stating, “Trump removed many of the tariffs he had imposed in this on-again, off-again… kind of policy. This has just wreaked havoc on the markets.” He went on to highlight what he termed the “profound danger” of insider trading occurring within the White House.
“The question is, who knew what the president was going to do? And did people around the president trade stock knowing the incredible gyration the market was about to go through?” he asked. Schiff further accused Trump of corruption, referencing his family's involvement in cryptocurrency trading and the “conflicted self-dealing” of notable ally Elon Musk.
“Is Donald Trump's inner circle illegally profiting off of these huge swings in the stock market by insider trading? Congress must find out.” — Adam Schiff, April 9, 2025
Schiff emphasized the need for Congress to go beyond mere inquiries, stating, “We need to do the oversight necessary to get those answers… We’re going to get to the bottom of this.”
White House Press Secretary Karoline Leavitt previously asserted that the reversal of tariffs was part of Trump's larger negotiation strategy, terming it his "art of the deal." However, the White House has not yet responded to Schiff's request for a congressional investigation.
Other Democrats have also raised alarms about Trump's actions. The House Democratic Financial Services Committee claimed on X, “The President of the United States is literally engaging in the world’s biggest market manipulation scheme,” in response to Trump's “Time to buy” message.
During a House hearing with Trump’s trade representative, Jamieson Greer, Rep. Steven Horsford of Nevada questioned if the tariff pause constituted market manipulation. Meanwhile, Rep. Alexandria Ocasio-Cortez has called for all lawmakers to disclose their recent stock purchases.
“I’ve been hearing some interesting chatter on the floor,” she said on X. “Disclosure deadline is May 15th. We’re about to learn a few things. It’s time to ban insider trading in Congress.”
Emily Johnson for TROIB News
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