After one of the best days on Wall Street since World War II, fueled by President Donald Trump and his team’s conflicting messages and actions on tariffs, questions are swirling over possible insider trading, market manipulation, and “pump and dump” schemes.

President Trump’s announcement that he is pausing most of the increased tariffs that went into effect at midnight was met with glee by investors but with questions by critics who note that the President, just minutes after the markets opened Wednesday morning, had declared it a “great time to buy.” Less than four hours later, upon news breaking of his “pause” announcement, stock prices surged.

The Dow closed up almost 3000 points, and the S&P 500 surged 9.5 percent, its biggest increase since 2008.

Some critics say the optics are even worse given that Treasury Secretary Scott Bessent, following the President’s market-shaking “pause” announcement, reportedly told reporters it had been the plan all along.

READ MORE: ‘No Plan’: Trump Ripped for ‘Lurching’ Strategy After Surprise Tariff Reversal

“Is this market manipulation?” asked U.S. Rep. Steven Horsford (D-NV), in a hearing Thursday afternoon, questioning Trump Trade Representative Jamieson Greer.

“No,” Greer replied.

“Why not? If it was a plan, if it was always a plan, how is this not market manipulation?” Horsford insisted, appearing to refer to Secretary Bessent’s prior remarks.

“It’s not market manipulation, sir,” Greer added.

“Well, then what is it?” an angered Horsford demanded. “‘Cause it sure is not a strategy.”

“We’re trying to reset the global trade system,” Greer continued.

“What has that done?” Horsford interjected. “How have you achieved any of that? But to enact enormous harm on the American people, which was our concern from the very beginning, Tariffs are a tool. It can be used in the appropriate way to protect U.S. jobs and small businesses. But that’s not what this does. So, if it’s not market manipulation, what is it? Who’s benefiting? What billionaire just got richer?”

“But meanwhile, the Speaker is rushing to the floor to pass a budget reconciliation to screw America by passing the biggest tax cut in history — on the backs of the American people? W.T.F.! Who’s in charge? Because it’s sure doesn’t look like it’s the trade representative. You just got the rug pulled out from under you.”

JUST NOW: Rep Steven Horsford GRILLS Jamieson Greer on Donald Trump’s tariff reversal: “Is this market manipulation? If it’s not market manipulation, what is it? Who’s benefiting? What billionaire just got richer?” pic.twitter.com/Wfx8VlLemu

— Marco Foster (@MarcoFoster_) April 9, 2025

Journalist Ahmed Eldin writes, “Trump tells followers to buy when market opens, then hours later, he pauses tariffs — stocks surge. Totally normal! Just your average day of legal-ish insider trading and market manipulation. Corruption is trading at an all-time high.”

Wednesday afternoon, U.S. Senator Adam Schiff (D-CA) announced that he will be “writing to the White House to demand who knew in advance that the president was once again going to flip flop on tariffs —and are people cashing in?”

“There is just all too much opportunity for people in the White House and the administration to be insider trading and you can’t put it past them for a minute,” he said. “I think Congress should do an investigation into this, but we’re gonna demand answers from the administration.”

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“This will come out,” Schiff vowed, “but an administration that has their own meme coins and has already engaged in self interested dealing with Elon is ‘DOGEing’ agencies that are doing oversight in his own businesses, and that kind of corrupt climate, you have to assume the worst, and we’re gonna try to find out.”

Adam Schiff says he will “find out” if members of the White House are involved in insider trading👇 pic.twitter.com/pbqmKVOdkp

— Daily Caller (@DailyCaller) April 9, 2025

Attorney Jackie Singh, a cybersecurity, privacy, and cybercrime expert, posted a CNBC screenshot with the headline: “White House insists Trump’s tariff reversal was his strategy all along.”

“Yes,” she writes, “pump & dump schemes were previously an exclusive realm of fraudsters, and considered prosecutable criminal activity–Now neatly employed by the President of the United States (also a fraudster).”

Political strategist Chris D. Jackson writes, “So he caved after he said he wouldn’t. Was this all a big market manipulation scheme?”

International security analyst Matthew VanDyke insisted the Trump administration “is going to be investigated for market manipulation.”

“Somebody just made BILLIONS off this tariff-based manipulation of the markets,” noted attorney Tristan Snell, who prosecuted the Trump University case for the State of New York. “And it wasn’t any of us.”

“Historian here,” writes Professor of history Manisha Sinha, “while they are tanking the U.S. economy the White House and Trumps cronies are making millions from market manipulation and speculation.”

SiriusXM host John Fugelsang wrote: “This isn’t The Art of the Deal. It’s insider trading with a bad comb-over.”

Watch the videos above or at this link.

READ MORE: ‘Dangerous’ New Trump Drug Tariffs Would Lead to Shortages, Soaring Costs, Death: Critics

Image via Reuters

One week after “Liberation Day” and just hours after his latest wave of global tariffs took effect, President Donald Trump announced what appears to be a temporary “pause” on some of his market-roiling measures — prompting a dramatic surge in the stock market and leaving investors and political observers alike gleeful yet puzzled.

Trump appears to have increased the tariffs on China, his number one target, while pausing tariffs on some countries, possibly those who have not “retaliated,” although many appeared confused by his statement.

“Facing a global market meltdown,” the Associated Press reports, “President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days but raised his tax rate on Chinese imports to 125%.”

Trump declared on his Truth Social website, “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.”

READ MORE: ‘Dangerous’ New Trump Drug Tariffs Would Lead to Shortages, Soaring Costs, Death: Critics

“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. Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!”

Critics blasted the President for having inflicted the week-long imposition of high tariffs that have caused a global trade war, and for appearing to have no actual plan.

“Wow. Trump just caved on the sweeping across-the-board tariffs, issuing a 90-day pause,” observed Sawyer Hackett, an Obama alum and Democratic strategist. “All of that chaos, trillions of dollars evaporated—for nothing at all.”

“Sooo… the ‘back down’ is even higher tariffs on China and retaining a 10% tariff everywhere else?” asked Matthew Gertz, a senior fellow at Media Matters for America, “ie higher prices on everything you buy, small businesses dependent on Chinese imports still annihilated, and the great new manufacturing future isn’t happening?”

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“Chaos aside I think people are still going to notice a 10% tax levied on everything they buy,” Gertz added. “He does seem to have succeeded in getting the markets to swallow a 10% tariff on every other country imposed through an insane and shambolic process for no apparent reason! And vindicated the MAGA crowd’s ‘make it through the day’ strategy.”

“Halting the tariffs seems better than going forward with them, but again how on earth are you expecting anyone to invest in any new manufacturing if there’s no telling what policy will be tomorrow?” asked Bloomberg’s Matthew Yglesias.

“Markets are experiencing Stockholm Syndrome rn [right now] but at some point the real world will have to reckon with the fact that 10% universal tariffs plus 125% tariffs on China (and maybe the EU?) and sector tariffs on steel, aluminum, lumber, and pharmaceuticals are still a huge problem,” noted Aaron Fritschner, deputy chief of staff for U.S. Rep. Don Beyer (D-VA). “Oh and how could I forget- 25% on cars. Which yes, are still on.”

Spencer Hakimian, founder and chief investment officer of the hedge fund Tolou Capital Management, remarked:  “So Trump predictably had to cave. And now assets are ripping again. What was the point of the last week? Simple question.”

Reposting video of Trump from Monday, the political action organization Really American wrote: “It was only 2 days ago when Trump was asked if he was open to a pause, and his reply was ‘We’re not looking at that.’ Trump just proved that he has no plan, and is just lurching from crisis to crisis, all caused by him.”

Watch the video below or at this link.

REMINDER: It was only 2 days ago when Trump was asked if he was open to a pause, and his reply was “We’re not looking at that.” Trump just proved that he has no plan, and is just lurching from crisis to crisis, all caused by him.pic.twitter.com/7wdBSSIPlT

— Really American 🇺🇸 (@ReallyAmerican1) April 9, 2025

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Image via Reuters

In his 2023 State of the Union Address, then-President Joe Biden vowed, “Make no mistake: if Republicans try to raise the cost of prescription drugs, I will veto it.” Democrats cheered and applauded, while Republicans remained mostly silent.

But Republicans cheered and applauded as President Donald Trump announced on Tuesday night he would impose “major” tariffs on pharmaceuticals—prescription drugs, some life-saving, taken by nearly two out of every three Americans, including nine out of every ten seniors aged 65 or older. Over-the-counter medications like pain relievers such as Advil and Tylenol, and allergy medications, for example, could also be included.

“We’re gonna tariff our pharmaceuticals, and once we do that, they’re gonna come rushing back into our country, because we’re a big market,” Trump declared in remarks (video below) at the National Republican Congressional Committee Dinner, a black tie event for the NRCC, which works to elect Republicans to the House of Representatives.

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The contrasts were striking: one President pledging to keep prescription costs down; the other, in black tie, announcing major tariffs on medications—many of them used daily by Americans, including seniors and low-income individuals who depend on them to manage serious conditions or even to stay alive.

“The advantage we have over everybody is that we’re the big market,” President Trump went on to say, “so we’re gonna be announcing very shortly a major tariff on pharmaceuticals, and when you and when they hear that, they will leave China, they will leave other places, because they have to sell most of their product to [be] sold here, and they’re going to be opening up their plants all over the place in our country.”

According to NBC News, “Pharmaceutical imports were initially exempt from Trump’s first set of reciprocal tariffs last week,” but upon hearing the President’s announcement, global pharmaceutical manufacturers’ stocks took a tumble.

Late last month, the Brookings Institution warned that tariffs on pharmaceuticals will not provide incentive for U.S manufacturing of “off-patent generic drugs, which represent over 90% of the volume” of prescriptions dispensed. It also warned that tariffs on pharmaceuticals could lead to “product discontinuations or cost cutting that erodes quality.”

“Any production disruptions in the already fragile generic injectable markets are likely to result in shortages,” Brookings added.

Backlash to Trump’s announcement was swift, as many Americans, already under stress from the President’s massive tariff program, have seen markets in the U.S. and across the globe decimated.

Critics warn the tariffs could lead to deadly consequences

“Donald Trump wants to slap tariffs on pharmaceuticals, most of which are made outside the States, including the raw ingredients that go into almost every pill we take? That’s not being tough on China—that’s playing politics with people’s lives,” commented political strategist Shea Jordan Smith.

READ MORE: ‘Answer the Question!’: Dem Berates Trump Official Over Worst Policies ‘In My Lifetime’

“Make no mistake—this will kill Americans,” warned 314 Action, which says it is “the only organization in the nation focused on recruiting, training, and electing Democrats with a background in science to public office.” “Trump is gambling with people’s lives through his tariffs. This is why we need more doctors in Congress—to be able to stand up to Trump and protect our health care from weak spined Republicans.”

Jessica Riedl, a senior fellow at the Manhattan Institute, a conservative think tank, lamented: “President Trump wants to tax low-income families’ and seniors’ prescription drugs at accelerating rates until they can no longer afford the medications they need to survive and function. Sadistic. And Congress does nothing about it.”

Middlebury College political science professor Gary Winslett, who focuses on politics around trade and global business writes, “This has got to be one of the absolute dumbest product classes you could ever tariff.”

Robert Tyler, a senior policy advisor at a conservative European think tank, observed: “It’s one thing to disrupt global supply chains for the auto industry (because frankly people just aren’t buying that many cars at the moment anyway) but pharmaceuticals is dangerous. A lot of the world don’t have the capacity to fill a shortfall.”

Watch the video below or at this link.

President Trump: “We’re going to tariff our pharmaceuticals and once we do that they’re going to come rushing back into our country because we’re the big market…So, we’re going to be announcing very shortly a major tariff on pharmaceuticals.” pic.twitter.com/rdBOewo7MW

— CSPAN (@cspan) April 9, 2025

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Image via Reuters