President Trump sparked controversy with his sudden tariff freeze announcement, pausing most tariffs for 90 days. Hours before the decision, he posted on Truth Social declaring it “a great time to buy,” prompting a significant stock market surge. This timing led to accusations of insider trading and market manipulation from Democratic lawmakers.
Sequence of Events
On April 9, 2025, Trump posted on Truth Social around 9:30 a.m., saying, “BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!” followed by, “THIS IS A GREAT TIME TO BUY!!! DJT.” The “DJT” refers to both his initials and the ticker for his media company, Trump Media & Technology Group. At the time, markets were shaky, down nearly 20% over days due to his earlier announcement of sweeping tariffs on imports, which spooked investors over fears of a trade war. Then, around 1:20 p.m. that same day, Trump announced a 90-day pause on most of those tariffs (except for China, where tariffs have now jumped to 125%), keeping a baseline 10% levy. The markets went wild – S&P 500 up 9.5%, Nasdaq up nearly 12%, Dow up 8%. Trump’s company stock also spiked 22%.
Democrat Representative Alexandria Ocasio-Cortez cried foul, suggesting the timing of Trump’s posts and the tariff pause smelled like market manipulation or insider trading. Democrats Senators Adam Schiff and Ruben Gallego wrote to the White House demanding to know who knew about the tariff pause beforehand and whether anyone traded stocks to profit. They pointed out that Trump’s posts came when markets were low, potentially signaling to allies to buy cheap before the policy shift sent stocks soaring. Ocasio-Cortez even hinted at “chatter” on the Hill, urging Congress members to disclose recent stock trades. Others, including Senator Elizabeth Warren, called for an independent probe, arguing the public deserved answers about whether Trump or his circle cashed in.
The counterargument from Trump’s side was that his posts were just him being optimistic, not a coded tip-off. White House spokespeople said it’s the president’s job to calm markets amid “fearmongering,” and the tariff pause was part of a broader strategy – Trump’s “Art of the Deal” in action. They denied any wrongdoing, and some Republicans, like Senator John Cornyn, dismissed the accusations as Democrats grasping at straws. Trump himself said he’d been mulling the pause for days and finalised it that morning, though his trade representative, Jamieson Greer, admitted to learning about it in real-time during a congressional hearing.
Skeptics of the accusations note that insider trading typically requires proof of someone using non-public info to trade personally, and there’s no hard evidence Trump or his family bought or sold DJT stock that day. Market manipulation – a broader charge – could apply if he deliberately moved markets for personal gain, but his posts were vague, not specific buy orders. It is tough to pin down, especially since presidents aren’t usually prosecuted for general market comments.
On the flip side, the optics aren’t great. Trump’s “great time to buy” post, tagged with “DJT,” came hours before a market-moving decision only he could make. His company’s stock surged, and he reportedly bragged about friends like Charles Schwab making $2 billion that day. If Trump didn’t trade himself, he could have tipped off allies (to the 99.99 % of Americans effected by Trump’s tariffs that kind of thing would feel like a gut punch), and the lack of transparency fuels suspicion. Schiff’s push for an investigation aims to dig into who knew what and when, but with Republican control of key congressional committees, a formal probe might stall unless hard evidence emerges.
And Now?
Right now, there’s no concrete proof Trump orchestrated the tariff pause to enrich specific allies, but the timing of his posts and the market’s reaction definitely raised red flags. The accusations are serious: if true, it’d suggest a deliberate play to manipulate stock prices, which could fit the legal definition of market manipulation, though proving intent is a high bar. Investigators would need evidence, notably, communications showing Trump tipped off insiders to buy low before the announcement.
That’s the lay of the land – lots of noise, no smoking gun yet. Investigations are being called for, but nothing’s confirmed.
I’m guessing that questions will remain unanswered and Trump’s charmed life will continues on its merry way. He has history.
References
In stunning U-turn, Trump walks back some tariffs, triggering historic market rally, Andrea Shalal et al, Reuters
Trump’s ‘buy’ call nets huge returns for those who listened, Alex Harring, CNBC
Trump says ‘be cool’ after tariffs: ‘The USA will be bigger and better than ever before’, Skylar Woodhouse and Bailey Lipschultz, National Post
Dow plunges 2,200 points as tariff tumult rocks markets, and , CNN
Trump hits pause button, backs off high tariffs (except China) skyrocketing stocks, Dow after ‘great time to buy’ post, Mike Sunnucks, Montana Right Now
Ocasio-Cortez: Colleagues ‘should probably disclose’ recent stock purchases now, Filip Timotija, The Hill
Here’s the Moment Trump’s Trade Rep. Learned the Tariffs Were Paused, The New Republic
Experts, critics raise questions after Trump says ‘this is a great time to buy’ before pausing tariffs, Rob Wile, NB
Trump brags to NASCAR drivers that friend Charles Schwab made $2bn from stock market chaos, The Independent
Dear reader, we need your support
Independent sites such as The AIMN provide a platform for public interest journalists. From its humble beginning in January 2013, The AIMN has grown into one of the most trusted and popular independent media organisations.
One of the reasons we have succeeded has been due to the support we receive from our readers through their financial contributions.
With increasing costs to maintain The AIMN, we need this continued support.
Your donation – large or small – to help with the running costs of this site will be greatly appreciated.
You can donate through PayPal or credit card via the button below, or donate via bank transfer: BSB: 062500; A/c no: 10495969
Mr Trump has mumbled an apology to the world. You may have missed it as it didn’t appear on Truth Social neither was it an Executive Order, signed with a crayon and displayed for the world to see.
He has conceded that his tariff impositions are hurting American consumers as much as they are hurting overseas producers, in particular the Chinese and he hadn’t thought about that.
Accordingly, he has removed tariffs from Apple products and those of Dell and IBM and any other tech manufacturers who rely on Chinese know-how to manufacture their products.
In case it’s inaudible let me convey Mr Trump’s profuse apology to the world for his stupid error which he puts down to being a decrepit, old narcissistic megalomaniac and that’s on a good day when he has taken his meds.
Plenty of financial analysts have been expecting this. It’s blatant market manipulation to further enrich the already obscenely wealthy oligarchs and thus cement their support. Neofeudalism, here we come.
How can so many laud the man? This is another demonstration of his inability to consider the consequences of his actions.
He acts and hopes but the position allows him to redress and his supporters will praise him for the move ‘today’ to keep the tech mob happy and prices down despite his stupidity ‘yesterday’.
With support like that, e cannot lose????
Blatant, filthy, ignorant, divisive, damaging policy from Trump is subhuman stupidity, no doubt fuelled by crooked behinders who are rigging profitabilities, extractions, loot. The USA, Unenlightened Suckerland Arseholes, seems doomed to be drained by Dracula Donald the dogshit dictator. But, “they’ll” make a movie and a series…jackals, maggots.
Wonder who personally managed to persuade Trump to pause on tariffs vs a lot of angry supporters and enablers who are shocked at Trump’s behaviour, but preferred over Harris and the Dems?
Noise started other week with fossil fuel faux free market Koch Network which ‘owns’ the GOP and one of their reputable outlets AEI stating general concerns, then fossil fuel donors, then Bessent allegedly looking to escape the White House, Musk & Bros. calling Trump’s tariff guru Navarro a ‘moron’, and of course tariffs putting the frighteners on the bond market.
Straw that broke the camel’s back was apparently mid week US Treasury couldn’t sell a $70 billion package, but Germany bonds were being bought; when sales and prices drop yields increase as do debt financing costs.
The big one missed by all, not just Murdoch’s WSJ moooting ‘impeachment’, but Charles Koch and Leonard Leo of Federalist Society (stacked SCOTUS for Trump), have sued the Trump admin. for ‘illegal tariffs’ (guess via Fed. Court in Fl.).
They either have SCOTUS onside to stop Trump, or it’s a warning shot across the bows of the White House, giving permission to GOP in Congress to oppose Trump and his tariffs?