When Donald Trump first declared his chaotic tariffs policy, most Americans were watching their 401(k)s yo-yo or bracing for prices to skyrocket.
Meanwhile, it appeared that Trump and his cabinet members were busy giving out investing advice to their rich friends as the economy was in freefall. Mere hours before pausing a whole slew of tariffs, Trump posted on Truth Social: “THIS IS A GREAT TIME TO BUY!!! DJT”
And that’s not all: According to additional reports, Treasury Secretary Scott Bessent has been making the rounds on Wall Street giving out exclusive, advance tips about Trump’s trade policy. He reportedly told a closed-door investor summit that the China tariffs would soon deescalate. And he gave other investors some non-public information about a potential trade agreement with India.
All the while, some members of Congress were making well-timed trades ahead of the pause announcement.
Two things are abundantly clear here:
- The American people deserve to know if Trump and Bessent are running around to their billionaire friends, giving them stock trading tips.
- No public official who has access to exclusive policy information should be able to trade stocks in the first place.
The American people need to have confidence that their representatives in Washington are making decisions in the public interest — not to line their own pockets. That’s why I sent a letter to Secretary Bessent here demanding answers. And it’s why I’m continuing to push hard to ban members of Congress from buying and selling individual stocks to prevent this kind of craven corruption and market manipulation.
Add your name if you agree that we need answers from the President and his cabinet, and that members of Congress and their spouses shouldn’t be able to own and trade individual stocks.
I’ve been raising the alarm about corruption for years, and this latest episode with Bessent and Trump is exactly why. The American economy is not a game for them to rig to make themselves and their billionaire buddies richer.
Chaos, confusion, economic damage, and opportunities for corruption: that’s the hallmark of Trump’s rollout of these tariff policies. And these disastrous, overly-broad tariffs are already having a devastating impact on American families. Trump continues to engage in magical thinking about who’s going to foot the bill (hint: the American people) while he plays dealmaker from the Oval Office.
To make matters worse, Trump’s erratic decision-making on tariffs means frequent, seemingly random changes have created a scenario where wealthy investors and well-connected corporations can get special treatment. They benefit from insider tips they can use to time the market — all while Main Street, small businesses, and America’s families are left to clean up the damage.
They’re not even trying to hide it. You might’ve also seen the news that Donald Trump Jr. is founding a private Washington, D.C. members-only club — with a $500,000 entrance fee — where CEOs and billionaires can rub shoulders with politicians and lawmakers.
The American people deserve to feel confident that their elected representatives are acting in the public interest — not in the interests of their private stock portfolio. We’ve got to ban members of Congress from individual stock trading that’s ripe for corruption, but we can’t stop there. We need to ban federal judges, Cabinet secretaries, and other top officials from owning and trading stocks. And to really root corruption out of Washington, we’ve got to end lobbying as we know it, put a padlock on the revolving door, strengthen judicial ethics, and more.
The first step is demanding answers from Trump and Bessent on their behavior during the tariff-induced volatility, and banning members of Congress from trading individual stocks. Add your name if you’re with me.
Thanks for being a part of this,
Elizabeth  |
