Senator Cory Booker of New Jersey has called for congressional hearings into potential insider trading allegations against President Donald Trump. Booker insisted there was “enough smoke” to justify a formal investigation into whether Trump or members of his administration engaged in market manipulation. What specific evidence do Democrats have to support insider trading allegations?
Democrats Call for Investigation Into Trump’s Tariff Pause
Senator Cory Booker appeared on NBC’s “Meet the Press” to discuss what he considers suspicious timing surrounding President Donald Trump’s recent announcement of a 90-day pause on tariff hikes. The New Jersey Democrat pointed to Trump’s social media activity on Truth Social, where he suggested it was a “great time to buy” stocks shortly before making the tariff announcement that excluded China.
Booker did not mince words when explaining why he believes congressional oversight is necessary in this case. “There is enough of an offense here. There’s enough smoke here that should demand congressional hearings,” Booker stated during his interview with host Kristen Welker.
NBC's Kristen Welker asks Senator Cory Booker (D-NJ) if he has any actual evidence that anyone in the Trump administration profited from the tariff announcements or if the call to investigate is just a fishing expedition.
Watch as he provides a lot of word salad, but zero claims… pic.twitter.com/cMvbX1MVER
— DeVory Darkins (@devorydarkins) April 13, 2025
Questions About Evidence and Political Motivations
Welker challenged Booker on the substance behind the serious allegations of insider trading and market manipulation. She pressed the senator on whether Democrats had concrete evidence that anyone profited from advance knowledge of the tariff pause announcement.
Booker responded by emphasizing concerns about Trump’s approach to government oversight. “You know, here’s the problem with Donald Trump and congressional Republicans. It is our whole system that was designed to have checks and balances. Now, Trump has designed an administration like none we’ve ever seen before. He is attacking the very agencies that are supposed to have independent oversight of these kinds of actions.”
Senator Cory Booker calls for an investigation into possible "insider trading" by Trump allies this past week.
“There is enough of an offense here, there’s enough smoke here that should demand congressional hearings."
How about we hold a hearing on Nancy Pelosi's trades? pic.twitter.com/f00rs7Dbxl
— Eric Daugherty (@EricLDaugh) April 13, 2025
Senate Democrats Demand SEC Action
The controversy has attracted attention from multiple prominent Democrats who are calling for formal investigations. Senators Elizabeth Warren and Chuck Schumer have taken the lead in urging the Securities and Exchange Commission to look into whether the tariff announcements were used to enrich Trump administration insiders.
In their letter to the SEC, Senate Democrats outlined their specific concerns regarding potential market manipulation. “We urge the SEC to investigate whether the tariff announcements, which caused the market crash and subsequent partial recovery, enriched administration insiders and friends at the expense of the American public and whether any insiders, including the President’s family, had prior knowledge of the tariff pause that they abused to make stock trades ahead of the President’s announcement.”
The timing of Trump’s tariff policy shift has created a political firestorm as Democrats push for transparency and accountability. Republicans have largely dismissed the accusations as politically motivated attacks aimed at damaging Trump’s presidential campaign rather than substantive concerns about market integrity.
The SEC has not yet publicly responded to the Democrats’ request for an investigation into the matter. As markets continue to react to policy announcements, the question of whether anyone improperly profited from advance knowledge of the tariff pause remains under scrutiny.