18 Minutes. 47 Minutes. A Troubling Pattern of Insider Trading That the Trump Administration Can’t Explain.

WASHINGTON D.C. – Congressman Steven Horsford (NV-04) today pressed U.S. Trade Representative Jamieson Greer at the Ways and Means Committee nearly a year since his last public hearing demanding answers on potential market manipulation and insider trading within the Donald Trump’s Administration, that raises serious questions about market manipulation and potential insider trading including market-moving tariff decisions, well-timed trades, and refunds still owed to American families after tariffs the Supreme Court has ruled illegal.

“18 minutes before last year's tariff pause announcement, traders placed enormous bets that the market would surge. And 47 minutes before the President's announcement on Iran negotiations, someone shorted the oil market by hundreds of millions of dollars.” Rep. Horsford explained. “That is not coincidence. That is a pattern. And the only people with access to that information ahead of time are inside this Administration."

Congressman Horsford pointed to a broader trend in which tariff announcements and sudden reversals repeatedly moved markets, raising concerns about who may have had advance knowledge and the ability to profit.

"Ambassador Greer sat in that chair one year ago and said directly, 'No, this is not market manipulation.' But the truth is, there is now a clear pattern: tariffs are announced, markets move, a sudden reversal follows, and then the tariffs resume, over and over again." Rep. Horsford said. "Working families are left dealing with higher costs, while those with inside access may be cashing in. At minimum, this demands an investigation.”

Congressman Horsford emphasized that tariffs imposed under the International Emergency Economic Powers Act (IEEPA) functioned as a hidden tax on consumers driving up prices on everyday goods while the Supreme Court has since ruled those tariffs illegal.

“If families paid these tariffs at the checkout line, they deserve their money back plain and simple,” Rep. Horsford said.

Earlier this year, Congressman Horsford led 131 Democrats demanding transparency around the Administration’s “Liberation Day” raising concerns that someone may have benefited from advance knowledge of poly decisions. That letter is available here.

He also challenged the Administration’s claims about trade “deals,” noting that real agreements must be submitted to Congress.

“If these were real trade deals, Congress would have seen them,” Rep. Horsford said. “What this Administration calls ‘deals’ are temporary, unenforceable, and one social media post away from disappearing. The American people deserve transparency, accountability and their money back.”

Watch Congressman Horsford's full remarks here.