A group of high-profile Senate Democrats is demanding a federal and state investigation into whether President Donald Trump or members of his inner circle used non-public information for personal financial gain ahead of his April 2025 tariff reversal.
The call, led by Senators Chuck Schumer, Elizabeth Warren, Ron Wyden, Adam Schiff, Mark Kelly, and Ruben Gallego, follows a string of suspicious market-timed social media posts made by Trump before announcing a partial pause on sweeping tariffs that had previously roiled global markets.
Truth Social Posts and Tariff Reversal Raise Red Flags
On April 2, Trump launched a new round of tariffs that triggered a historic market sell-off — wiping out over $5 trillion from the S&P 500 in four days. But on April 9, before publicly reversing course, Trump posted twice on Truth Social:
- 9:33 AM: “BE COOL! Everything is going to work out well.”
- 9:37 AM: “THIS IS A GREAT TIME TO BUY!!! DJT”
At 1:18 PM that day, Trump formally announced a pause on some tariffs. By the end of the day, the S&P had its biggest one-day jump in nearly 20 years.
Senators say the timing raises serious questions about market manipulation and potential insider trading, especially if administration officials or donors acted on advance knowledge of the policy shift.
SEC and State AGs Pressed to Investigate
The senators sent letters to both SEC Chair Paul Atkins and the National Association of Attorneys General, urging investigations into:
- Whether anyone in the Trump administration profited by trading on non-public tariff information
- The impact of Trump administration cuts to the SEC’s enforcement resources
- Whether any state laws were violated in the process
“No one — not even a president — is above the law,” the senators wrote.
“Corruption and Lawlessness” Alleged
Senator Schumer accused the Trump administration of creating chaos through reckless trade policy and then potentially capitalizing on that chaos.
“Trump’s tariffs sent the market crashing — and he may have helped insiders cash in before the rebound,” Schumer said. “There must be a full and immediate investigation.”
Senator Warren echoed the call for accountability: “Presidents are not kings. Americans deserve to know if their economy was used as a playground for profit.”
Broader Fallout: Travel, Parks, and Safety Suffer
The push for an investigation comes as the public grapples with the broader fallout of what critics call the “Trump Tariff Tax”:
- Public lands are struggling after over 4,500 Department of Government Efficiency layoffs, affecting EMTs, park rangers, and more
- The FAA lost 400 aviation safety specialists, raising flight safety concerns
- Infrastructure projects face delays due to funding cuts
- Families are feeling the pinch ahead of summer travel season, with higher costs across the board
Critics argue that Trump’s trade war, government layoffs, and chaotic policy reversals are inflating prices and reducing public services — while his allies cash in.
Final Thoughts
With markets swinging wildly and financial elites reportedly benefiting from well-timed trades, the pressure is growing for both federal and state watchdogs to act.
Whether this becomes a legal turning point or another political flashpoint remains to be seen — but Democrats say Wall Street shouldn’t be a playground for presidential privilege.
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