Congressional Democrats are demanding to know whether
President Donald Trump, manipulated markets and tipped off friends and family about
a reverse course on global tariffs just hours before the decision was made to suspend
tariffs for 90 days. The suspension on tariffs sent stock prices soaring.
On the morning of Wednesday April 9, 2025, Trump posted on his
website ‘Truth Social’, at 9.33 a.m.,
“BE COOL! Everything is going to work out well. The USA will be bigger and better
than ever before.” At 9.37 a.m., Trump subsequently posted: “THIS IS A GREAT TIME BUY!!! DJT.” At 1.18
p.m., Trump announced on ‘Truth Social”
that he was imposing a 90-day pause all virtually all tariffs in put in place
days before.
According to press reports, at a meeting in the Oval Office on
Thursday April 10, Trump met with financial industry executives and joked about
how much money they had made in the past 24 hours from the market turmoil. “He made $2.5 billion today, and he made $900
million”, the president said to laughs, pointing to billionaire Charles
Schwab and others in the Oval Office.
Stock in Tesla, the electric car company owned by Musk,
increased by 18% following the president’s announcements to suspend most
tariffs.
Alexandria Ocasio-Cortez (D-N.Y.), said that it wasn’t just
White House employees or Trump’s family members who may have partaken in market
play. She said: “Any member of Congress
who purchased stocks in the last 48 hours should probably disclose that now.”
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