Washington, D.C. — President Donald Trump’s financial disclosure shows his investment accounts bought hundreds of stocks one day before he announced a 90-day tariff pause that sent markets sharply higher.
Sludge reported that Trump’s accounts made 327 stock purchases on April 8, 2025, worth as much as $12.8 million. The purchases included Apple, Microsoft, Nvidia, Amazon, and Alphabet. The next day, Trump announced a pause on many of his sweeping tariffs, and the S&P 500 rose 9.5%, while the Dow gained nearly 3,000 points.
The trades were disclosed more than a year later in Trump’s 927-page annual filing with the Office of Government Ethics. Federal rules require executive branch officials to report many securities transactions above $1,000 within 45 days. The filing notes that Trump paid late fees for transactions not previously reported on periodic transaction forms.
There is no comparable modern U.S. precedent for a president actively benefiting from such large, undisclosed trading activity while making market-moving policy decisions. Trump has also profited from crypto, licensing, foreign real estate, and branded merchandise while in office.
The White House has said Trump’s assets are managed by his sons and denied conflicts of interest. Ethics experts say delayed disclosure undermines public oversight.
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