Rep. Sewell calls for investigation into possible market manipulation

Rep. Terri Sewell is calling for accountability regarding potential market manipulation following the reversal of reciprocal tariffs planned for 57 countries by President Trump. Sewell, alongside Congressman Steven Horsford, led a letter with Ways and Means Democrats to address concerns regarding Trump’s tariffs announcement, which caused a spike in the U.S. stock market and raised suspicions of market manipulation.

Sewell emphasized the impact of Trump’s trade actions on the global economy, expressing concern for working-class individuals in Alabama who are bearing the brunt of these policies. She highlighted the need for transparency in determining whether Trump’s associates, particularly billionaire friends, were privy to information about the tariff pause before it was officially announced, potentially profiting from policies that negatively affect everyday Americans.

Rep. Horsford echoed similar sentiments, stressing the importance of revealing who is benefiting from the market turmoil resulting from these policies and how they are profiting at the expense of working-class Americans. The lawmakers’ letter, directed to key government entities including the President, the U.S. Trade Representative, the Department of Treasury, the Department of Commerce, and the Securities and Exchange Commission, requests essential details within 15 days to shed light on potential market manipulation and provide insights into the decision-making process behind the policy reversal.

Specifically, the letter seeks information on the timeline of deliberations concerning the tariffs, any documentation or correspondence pertaining to the tariff timing shared with the White House or Executive Office of the President, and details on communications between the USTR and financial institutions or private investors before and after the tariff announcement. Additionally, it requests descriptions of the roles played by the Department of Commerce and the Department of the Treasury in shaping tariff policies, as well as information on security transactions made by key government officials during the relevant period.

Sewell and Horsford’s efforts focus on ensuring accountability and transparency in government actions, particularly when they could potentially be linked to market manipulation or insider trading. The lawmakers are committed to safeguarding the interests of everyday Americans, particularly those most vulnerable to economic fluctuations caused by trade policies and market disruptions. Their letter signals a push for greater oversight and scrutiny of decision-making processes that impact the financial well-being of working-class individuals and families across the country.