Team Trump is not playing around after one of the worst politicians in America brazenly accused them of committing financial crimes before Trump’s latest announcement on tariffs.
Trump on Wednesday announced an immediate tariff increase on China to 125%. He also granted a 90-day pause and tariff reduction to 10% for over 75 other countries.
Trump announced the tariff change on Truth Social, writing that it was due to China’s “lack of respect for the World’s Markets.”
An angry Schiff lashed out a few hours after Trump announced his new tariff policy. After receiving a question from a leftist ‘reporter’ regarding whether members of the White House were benefiting from “market fluctuations,” Schiff vowed to investigate whether Trump’s White House officials were involved in insider trading before Trump announced his new tariff policy.
“I’m writing to the White House to demand who knew in advance the president was going to flip-flop on tariffs and if people are cashing in,” Schiff said. “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.”
“So we’re gonna try to find out,” he added.
As Fox News notes, Schiff and Senator Ruben Gallego (D-AZ) later wrote a letter to White House Chief of Staff Susie Wiles and Trade Representative Jamieson Greer, demanding an insider trading investigation.
“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,” Schiff and Gallego wrote.
BREAKING: I’m demanding answers from the White House and Office of Government Ethics about whether anyone in the Trump family or administration profited off of this tariff chaos through insider trading: pic.twitter.com/GkGl4XZ7NO
— Adam Schiff (@SenAdamSchiff) April 10, 2025
The Trump White House on Thursday delivered a fiery response when asked to comment on Schiff’s remark and the letter, noting Democrats’ extreme hypocrisy on China and accusing them of playing “partisan games.”
“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 fear-mongering. 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,” White House spokesman Kush Desai told Fox News.
Let’s investigate all of Congress, to find out if any of them, including Schiff, are playing insider trading games!
Typical leftwing hypocrisy. The trump team should write back with one word. PELOSI?