WASHINGTON — Congressional Democrats are raising concerns about potential misconduct by President Donald Trump and his associates following his suggestion on Wednesday that it was a “great time to buy” stocks, shortly before announcing a reduction in new tariffs that boosted the markets. House Minority Leader Hakeem Jeffries, D-N.Y., stated that Democrats are determined to investigate potential stock manipulation and any advance knowledge House Republicans may have had regarding Trump’s decision to pause the tariffs. Several members of Congress are committed to seeking transparency and answers, particularly regarding recent stock purchases.
Following Trump’s social media post encouraging stock purchases, the market surged after his announcement of reduced tariffs. The White House denied accusations of market manipulation and criticized Democrats for politicizing the issue. While there is no evidence of market manipulation or insider trading, the timing of the events has sparked calls for scrutiny. Rep. Maxine Waters is expected to request an investigation into possible violations related to insider trading and market manipulation surrounding the tariffs announcement.
Sen. Elizabeth Warren emphasized the need for an independent investigation, separate from partisan influences, into the trading activities and information surrounding the tariffs decision. Sens. Adam Schiff and Ruben Gallego also called for a thorough investigation into the matter.
Representative Alexandria Ocasio-Cortez of New York called for answers on Thursday regarding potential insider trading or illegal financial transactions related to recent tariff announcements by President Trump. Ocasio-Cortez emphasized the need for accountability, particularly for any members of Congress who may have profited from trading stocks in advance of the announcements. She urged transparency, pointing out that financial disclosure reports are due by May 15. Senator John Cornyn of Texas and House Speaker Mike Johnson downplayed the allegations, with Cornyn dismissing them as baseless and Johnson making a light-hearted comment about the stock market.
