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‘Pump and Dump’: Market Manipulation Questions Swirl Over Trump Tariff Pause

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
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