Washington D.C. Congressional Democrats have initiated an investigation into potential insider trading by former President Donald Trump and his associates concerning tariff announcements. The investigation was prompted by Trump's statement, made on Wednesday, suggesting that it was a "great time to buy" stocks. Shortly after this statement, Trump announced a rollback of some previously imposed tariffs, causing a surge in the stock market.
Lawmakers are scrutinizing whether Trump and his inner circle possessed advance knowledge of the impending tariff adjustments, potentially using this information to profit from stock market fluctuations. The investigation will focus on trading activity surrounding the period leading up to the tariff announcement, examining financial records and communications of individuals connected to the former president.
The inquiry seeks to determine if any individuals violated securities laws by trading on non-public information. Democrats have expressed concern that if Trump or his allies benefited financially from prior knowledge of the tariff changes, it would represent a serious breach of public trust and a potential act of illegal insider trading. The investigation is ongoing, and further details are expected to emerge as the inquiry progresses.
Democrats Investigate Potential Trump Tariff Insider Trading
Congressional Democrats are launching an investigation into whether Donald Trump and his associates engaged in insider trading related to tariffs. The inquiry stems from Trump's public suggestion to buy stocks just before he announced a reduction in certain tariffs. Democrats are concerned that Trump's prior knowledge of the tariff changes may have given him and his allies an unfair advantage in the stock market. The investigation aims to determine if any laws were broken.
Source: Read the original article at NBC