US Democratic Senator Adam Schiff has called on Congress to investigate President Donald Trump for possible insider trading and market manipulation following his abrupt trade policy U-turn. Global stocks soared after the president paused the imposition of tariffs on a multitude of countries this week.
On Wednesday, Trump announced a 90-day pause on reciprocal tariffs against US trade partners, lowering duties to a flat 10% rate. The only exception was China, which he hit with an increase to 125% following Beijing’s tariff hike on US goods to 84%. Immediately after the announcement, US stock markets posted near-record gains after a week-long slump.