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Marjorie
Taylor Greene Faces 'Insider Trading' Probe Calls Over Stock Buys
Published
Apr 11, 2025 at 7:08 AM EDT
By Hugh
Cameron
U.S. News
Reporter
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Democrats
are calling for an investigation into Marjorie Taylor Greene's purchase of
stocks during the recent market dip following President Donald Trump's
announcement of sweeping global tariffs on April 2.
On Thursday,
Texas Democratic Representative Gregorio Casar said: "We need an
investigation into insider trading by people like Congresswoman Marjorie Taylor
Greene. We need an investigation into whether any K Street lobbyists or other
big firms were tipped off by Donald Trump's actions."
When
contacted for comment, a representative of Greene called the implication that a
probe would be launched into the matter "utterly absurd."
Markets
plummeted after Trump announced his "liberation day" reciprocal
tariffs on most American trading partners on April 2.
However, he
subsequently announced a 90-day pause on the tariffs on Wednesday, April 9,
saying that "people were getting a bit yippy." The move sent the
markets soaring.
While
members of Congress are permitted to buy and sell stocks, their knowledge of
political developments has often raised concerns about the possibility of
insider trading.
What To Know
Greene has
disclosed purchasing a number of stocks in the days leading up to the 90-day
pause—seven on April 3 and 19 on April 4—according to the Congressional trade
tracker Insiderfinance.io. These included purchases ranging from $1,001 to
$15,000 of shares in Lululemon, Dell Technologies and Apple Inc, among others.
Although
lawmakers are allowed to buy and sell stocks, they are required by the Stop
Trading on Congressional Knowledge Act to publicly disclose any stock trades
valued over $1,000 within 45 days of the transaction.
Greene is
the only member of Congress so far to disclose trades made after Trump's
"Liberation Day" announcement, but the 45-day disclosure rule means
many others may have purchased or sold stocks after this date.
Following
Trump's speech on April 2, American and global markets were sent plummeting as
investors panicked over the potential impact of the new tariffs on businesses
worldwide.
Many of the
stocks purchased by Greene were among those hit sharply by the announcement.
Apple Inc saw its share price fall nearly 8.2 percent between markets opening
on April 2 and closing on April 3, the date Greene purchased the stock.
Trump's
announcement on Wednesday of a 90-day pause on the reciprocal tariffs —
intended to allow countries to approach the U.S. administration and negotiate
trade deals— resulted in a historic rally for U.S. equities.
However the
rebound was short-lived. On Thursday, the S&P 500 fell by just under 3.5
percent. The Nasdaq Composite also dropped 4.3 percent, while the Dow Jones
Industrial Average ended the day down more than 1,000 points (2.5 percent).
Casar's call
for an investigation comes after Senator Adam Schiff also announced that
Congressional Democrats would be investigating Trump's administration for
insider trading prompted by the recent market volatility linked to his changing
tariffs.
What People
Are Saying
Representative
Casar told reporters on Thursday: "A culture of corruption has infected
the Republican party — Elon Musk, the tax cuts, the Medicaid cuts, the tariffs
— it's all part of one story. Everything the Trump administration has done is
to make Trump, Musk, their billionaire friends, or their buddies on the
Republican side of the aisle richer. And every time it's meant that working
families get screwed."
President
Trump posted on Truth Social on Wednesday: "THIS IS A GREAT TIME TO
BUY!!!" He ended the post with the letters DJT, both his initials and the
stock market ticker of Trump Media & Technology Group Corp, the firm in
which he holds a majority stake.
What Happens
Next?
The
administration has claimed that the 90-day pause will give countries the
opportunity to negotiate trade terms with the U.S.
However,
China is excluded from this pause, and the administration recently announced
that the country's goods would be subject to a 145 percent tariff when entering
the U.S.
The
administration stated that 75 countries have already reached out, seeking to
begin negotiations, with many aiming to finalize deals within the three-month
period.
Update
04/11/25, 10:15 a.m. ET: This article was updated with a response from a
representative of Marjorie Taylor Greene.
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