First Adam Schiff, now New York Attorney General Letitia James.
Letitia James is looking into possible insider trading in connection with President Trump’s 90-day tariff pause.
CNN reported:
New York Attorney General Letitia James is looking into potential insider trading by Trump administration officials and associates around last week’s 90-day tariff pause, James’ office confirmed to CNN on Monday.
The review is in its earliest stages and is not yet a full investigation. It’s unclear if it will ultimately uncover evidence of wrongdoing.
How is posting on social media considered ‘insider trading’?
Last Wednesday President Trump took to Truth Social to calm fears amid his tariff blitz and a market drop.
“BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!” Trump said last Wednesday morning.
BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!
Donald Trump Truth Social 04/09/25 09:33 AM
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) April 9, 2025
A few minutes later President Trump said it is a good time to buy since the markets were down.
“THIS IS A GREAT TIME TO BUY!!! DJT” Trump said.
Last Tuesday, in response to Trump’s original 104% tariff on China, the Chinese government announced it would retaliate by increasing tariffs on American products from 34% to 84%.
President Trump upped the ante and announced higher tariffs on China on Wednesday.
Later Wednesday Trump announced he is immediately raising tariffs on China to 125%. At the same time he put a 90-day pause on tariffs and lowered reciprocal tariffs on more than 75 countries.
The Dow Jones immediately jumped more than 2,800 points and the Nasdaq surged more than 10% on Wednesday afternoon.
“The S&P 500 skyrocketed 9.1%, on pace for its biggest one-day gain in five years. The Dow Jones Industrial Average advanced 2,861 points, or 7.4%, also its biggest advance since 2020. The Nasdaq Composite jumped 11.7%, its largest one-day jump in decades,” CNBC reported.
