Washington, D.C. – April 10, 2025 – President Donald Trump once again proved his economic instincts are a boon for America, as his Wednesday decision to roll back tariffs to a modest 10%—excluding China—sent Wall Street into a jubilant frenzy. The Nasdaq soared 12.1%, its biggest single-day gain since 2021, while the Dow leapt 7.8%, marking its most significant increase in five years. Yet, in a predictable twist, Democratic Senators Adam Schiff and Ruben Gallego are attempting to cast a shadow over this victory, baselessly alleging insider trading and demanding an investigation into the White House. Their letter to Trump’s chief of staff Susie Wiles and Trade Representative Jamieson Greer reeks of political desperation rather than substance.
Trump’s announcement came on the heels of a Truth Social post earlier Wednesday, where he urged Americans to “BE COOL!” and proclaimed it a “GREAT TIME TO BUY!!!”—a characteristically upbeat message that foreshadowed his tariff reversal. Far from a calculated scheme, the president later told reporters the decision crystallized that very morning, saying, “I think it probably came together early this morning… We wrote it up from our hearts.” Treasury Secretary Scott Bessent and Press Secretary Karoline Leavitt reinforced this, noting that 75 countries had been in talks with Trump, aligning the move with his broader strategy to bolster U.S. economic might. The result? A stock market surge that put money back in Americans’ pockets.
Enter Schiff and Gallego, ever eager to undermine Trump’s successes. In their letter, they insinuate that the president, his family, or advisors might have exploited “nonpublic information” for personal gain, pointing to the market’s reaction as evidence of foul play. This is the same Adam Schiff whose track record includes breathless accusations and partisan theatrics—recall his relentless pursuit of Trump during the Russia collusion saga, which yielded little beyond headlines. Now, alongside Gallego, he’s grasping at straws, asking the Office of Government Ethics to probe whether White House officials or Trump’s kin traded on inside knowledge. The hypocrisy is palpable: Democrats, who often tout their moral superiority, seem more intent on scoring political points than celebrating an economic win for the nation.
Legal experts, like Loyola Law School’s Michael Guttentag, clarify that insider trading hinges on proving the use of “material nonpublic information”—a high bar that Schiff’s vague suspicions fail to meet. The Stock Act of 2012 does bar executive branch officials from such misconduct, but Guttentag notes investigations would simply require trading records, not the wild conjecture Schiff peddles. Trump’s off-the-cuff explanation of the tariff decision further undercuts the Democrats’ narrative—hardly the hallmark of a meticulously planned insider scheme. Meanwhile, former Rep. Chris Collins’ 2018 insider trading case, cited as precedent, involved clear evidence of a tip-off at a White House picnic. Schiff and Gallego offer no such smoking gun here—just innuendo.
Republicans see through the charade. Sen. John Cornyn of Texas called the allegations “ridiculous,” suggesting Democrats are merely taking “a dig” at Trump. “It’s pretty obvious that when the stock market is in a dip, maybe if you have some money, you might consider investing and make some money when it picks back up again,” Cornyn told reporters, echoing the common-sense investing logic Trump’s supporters applaud. The president’s social media nudge was less a secret signal to cronies and more a public rally cry—one that paid off spectacularly.
Democrats like Sen. Elizabeth Warren insist on an “independent investigation,” claiming transparency is at stake. Yet their rhetoric, amplified by Sen. Dick Durbin’s tired refrain of “self-dealing,” feels like a rehash of old attacks on Trump’s administration. If Schiff and his ilk truly cared about ethics, they might focus on their own party’s spending sprees or questionable donor ties instead of chasing phantoms in the White House. Guttentag acknowledges that proving insider trading is a “long hill to climb,” and without concrete evidence, this probe risks becoming another Schiff-led witch hunt—costly, divisive, and ultimately fruitless.
Trump’s tariff rollback is a masterstroke of economic agility, reflecting his promise to make the USA “bigger and better than ever before.” The market’s roaring approval speaks for itself. Rather than cheer this achievement, Democrats are sulking, with Schiff at the helm of yet another baseless crusade. Americans deserve better than partisan sniping—they deserve leaders who celebrate prosperity, not obstruct it. As the dust settles, Trump’s instincts shine through, while Schiff’s accusations fade into the noise of a party out of touch with the nation’s pulse.
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