Senator Booker calls for probe into Trump's tariff dealings
Democratic Senator Cory Booker believes that there is "enough smoke" surrounding potential manipulations by Donald Trump and insider trading on the stock market. "There is enough wrongdoing here," the politician assessed. The opposition wants the president to be questioned before Congress.
Booker appeared on Sunday on the programme "Meet the Press" on CNBC. The politician was asked if there is any evidence of insider trading when Trump suddenly halted the implementation of tariffs.
Let's recall that last Wednesday, the President of the USA announced that he is raising tariffs on China to 125%, but suspending tariffs for other countries for 90 days – these are additional tariffs that he announced a week earlier and were supposed to take effect on 9th April. During these three months, countries, including the EU and Poland, will be subjected to a 10% tariff. The American stock market reacted immediately. Investors welcomed this decision with enthusiasm.
"He made $2.5 million, and he made $900 million! That’s not bad!" said Donald Trump in the Oval Office on April 9, pointing at financial investor Charles Schwab. On that very day, the US stock market soared when the president announced a 90-day suspension of tariffs.
Furthermore, the American "Newsweek" added that Republican Congresswoman Marjorie Taylor Greene, one of the most ardent "Trumpists," bought a large batch of shares a few days before the decision to suspend tariffs when the stock prices were plummeting. According to the weekly, the rebound in the prices of these assets likely brought substantial profits to Taylor Greene. The question arises whether individuals close to Trump might have known that after a significant drop in stock prices, there would be a subsequent increase in their value.
"Enough smoke"
Democrats are demanding a Congressional investigation and accuse Trump of market manipulations. In their opinion, the president might have used insider information when he suddenly backed out of implementing tariffs.
According to Senator Cory Booker, the entire system was designed with checks and balances in mind. — Not to have hearings, not to do any kind of oversight, undermines the faith we have in our government, undermines the trust we need in our nation right now, — he assessed on CNBC.
Booker, who recently spoke in the Senate for approximately 25 hours in protest against Trump, assessed that there is "enough wrongdoing" in the president's actions. — There is enough of an offense here, there’s enough smoke here that should demand congressional hearings, — he announced. He also added that "legitimate" questions need to be asked about the president's actions.
Booker is another opposition politician targeting Trump. Previously, a letter to the Securities and Exchange Commission was written by, among others, Massachusetts Senator Elizabeth Warren and Senate Minority Leader Chuck Schumer.
