Trump Used His Tariffs Game For Insider Trading; Democrats Want Probe

Donald Trump told the world to “be cool” as his sweeping import taxes took hold, tanking global markets and sending shockwaves through the U.S. economy.

Senator Schiff said Trump is creating giant market fluctuations with his on-again, off-again tariffs.

Then, minutes after the opening bell on the New York Stock Exchange, Trump announced: “This is a great time to buy!!!” Alex Woodward reported for The Independent. Four hours later, the president reversed course. He lowered tariffs on goods from most nations for 90 days while raising tariffs on imports from China to 125%.

White House officials said “this was his strategy all along” and called it “the art of the deal” at work.

Trump was accused of playing a reverse “pump and dump” scheme with the U.S. economy—driving stock prices down only to buy them up before prices rose again. Democratic Sen. Adam Schiff is calling for an inquiry into insider trading.

Schiff said Trump is creating giant market fluctuations with his on-again, off-again tariffs.

“These constant gyrations in policy provide dangerous opportunities for insider trading,” he warned. “Who in the administration knew about Trump’s latest tariff flip-flop ahead of time? Did anyone buy or sell stocks and profit at the public’s expense? I’m writing to the White House—the public has a right to know.”

The California senator is calling on the White House to answer “who is cashing in,” he told reporters.

Trump’s surprise turn on Wednesday appeared to be news to the administration’s own trade representative, who was in the middle of testifying to a House committee, deflecting allegations that the president purposefully manipulated the markets.

“If you came here knowing that these tariffs were going to be turned off, why didn’t you include that in your opening statement? Why didn’t you reference that in your testimony?” asked a furious Nevada Democratic Rep. Steven Horsford.

“I don’t disclose my conversations with the president, sir,” trade representative Jamieson Greer replied.

“These were specific questions. We asked you all along, ‘What’s the strategy?’” Horsford said.

“This is amateur hour and it needs to stop. How are you in charge of negotiating if the president is tweeting about this from wherever the hell he is? Did you know that this was happening? Is this market manipulation?”

Greer replied that he didn’t know. “Why not? If it was a plan—if it was always the plan—how is it not market manipulation?” Horsford said.

“It’s not market manipulation, sir,” Greer said. “We’re trying to reset the global trade system that has offshored all our factories,” he added.

“How have you achieved any of that?” asked Horsford, cutting Greer off. “Who’s benefiting? What billionaire just got richer?”