The White House has called out Democrats over their accusations of insider trading and playing “partisan games.”
According to Fox News, Democrats want to launch an investigation in alleged insider trading after reciprocal tariffs were paused for 90 days by President Donald Trump on Wednesday.
When asked about the Democrat’s claims, White House spokesman Kush Desai told Fox Digital the media has been “nonstop” with its “fearmongering.”
“It is the responsibility of the President of the United States to reassure the markets and Americans about their economic security in the face of nonstop media fearmongering,” Desai said. “Democrats railed against China’s cheating for decades, and now they’re playing partisan games instead of celebrating President Trump’s decisive action yesterday to finally corner China.”
In a letter to White House Chief of Staff Susie Wiles and Trade Representative Jamieson Greer, Sens. Adam Schiff (D-Calif.) and Ruben Gallego (D-Ariz.) called for an investigation into potential insider trading.
“This sequence of events raises grave legal and ethics concerns. The President, his family, and his advisors are uniquely positioned to be privy to and take advantage of non-public information to inform their investment decisions,” the senators wrote.
Trump took to Truth Social ahead of pausing reciprocal tariffs saying everyone should “Be cool,” and “Everything is going to work out well. The USA will be bigger and better than ever before!” and added that “This is a great time to buy!!! DJT.”
Trump also announced that while tariffs had been paused, they were not for China. In fact, the tariffs were increased to 125%.
“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” Trump said.
Treasury Secretary Scott Bessent also said dozens of countries had been in contact and noted that he expects more to do so in the future.
“We’ve had more than 75 countries contact us. And I imagine after today, there will be more. So it is just a processing problem. Each one of these solutions is going to be bespoke. It is going to take some time. And President Trump wants to be personally involved. So, that’s why we’re getting the 90-day pause,” Bessent said.
