INV-046 · Money & ethics · Insider trading
Trading around the April 2025 tariff pause
Stage 2 of 5: Inquiry · Letters and records requests · Last development 11 Apr 2025
At 9:37 a.m. on April 9, 2025, Trump posted "THIS IS A GREAT TIME TO BUY!!! DJT." About four hours later he announced a 90-day tariff pause, and stocks had their best day since 2008. Democratic senators asked the SEC to examine whether the president, cabinet members, donors or other insiders traded on advance knowledge. Rep. Waters separately asked the SEC and GAO to look at a spike in call options before the announcement.
Financial experts quoted at the time saw no immediate proof of insider trading, and no SEC investigation or response has been made public. No specific official has been accused of trading.
- People
- Donald Trump, Securities and Exchange Commission
- Agencies
- White House, SEC
- Reviewed by
- Sens. Warren, Schumer, Schiff and others, Rep. Maxine Waters
Timeline
Who is acting on it
- Asked for an investigation Sen. Elizabeth Warren (D-MA), Sen. Chuck Schumer (D-NY), Sen. Ron Wyden (D-OR), Sen. Adam Schiff (D-CA), Sen. Mark Kelly (D-AZ), Sen. Ruben Gallego (D-AZ): Asked the SEC to investigate trading around the pause (11 Apr 2025, No reply or result recorded yet)
- Letter Rep. Maxine Waters (D-CA): Wrote to the SEC and GAO about the trading (11 Apr 2025, No reply or result recorded yet)
Sources
Cite this case
Public Trust Tracker. "Trading around the April 2025 tariff pause" (INV-046). Last updated 11 Apr 2025. https://publictrusttracker.org/case/inv-046-trading-around-the-april-2025-tariff-pause/
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