{"id":133185,"date":"2025-04-10T13:01:07","date_gmt":"2025-04-10T13:01:07","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/trump-administration-accused-of-insider-trading-over-90-day-tariff-pause-live-the-independent\/"},"modified":"2025-04-10T13:01:07","modified_gmt":"2025-04-10T13:01:07","slug":"trump-administration-accused-of-insider-trading-over-90-day-tariff-pause-live-the-independent","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/trump-administration-accused-of-insider-trading-over-90-day-tariff-pause-live-the-independent\/","title":{"rendered":"Trump administration accused of \u2018insider trading\u2019 over 90-day tariff pause: Live – The Independent"},"content":{"rendered":"

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President\u2019s move to suspend levies sends financial markets soaring as White House and conservative allies attempt to spin climbdown as brilliant manoeuvre by master dealmaker
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Donald Trump<\/a> urged the world to \u201cbe cool\u201d on Wednesday as his sweeping import taxes took effect, crashing global markets and sending shockwaves through the U.S. economy<\/a>.
Minutes after trading began on Wall Street<\/a>, he declared: \u201cTHIS IS A GREAT TIME TO BUY!!!\u201d
But hours later, the president performed an extraordinary U-turn<\/a>, pausing and reducing tariffs<\/a> on most nations for 90 days while increasing levies on imports from China<\/a> to 125 percent.
Markets surged<\/a>. White House<\/a> officials \u2013 who just one day earlier said Trump would never back down \u2013 claimed \u201cthis was his strategy all along\u201d and \u201cthe art of the deal\u201d at work.
Social media exploded with accusations that the president had orchestrated a reverse \u201cpump and dump\u201d scheme: driving stock prices down only to buy them up before they rose again.
Democratic Senator Adam Schiff<\/a> is already calling for an investigation into market manipulation<\/a> or insider trading.
Asked by a reporter about when he arrived at the decision to pause the tariffs, Trump gave a muddled answer.
\u201cFor a period of time,\u201d he said initially, before continuing: \u201cI would say this morning. Over the last few days, I\u2019ve been thinking about it. Fairly early this morning.\u201d
A tattoo equipment supplier in Pennsylvania is worried they won\u2019t make it to summer.
A three-person team making optical scanners in San Diego saw their bills double overnight.
A coffee shop in New Orleans may be forced to raise its prices.
Here\u2019s Richard Hall <\/strong>on the American businesses not helped by Trump\u2019s tariff walkback because they rely on goods from China.
Although the president did eventually take up the 90-day tariff pause proposed by hedge fund manager Bill Ackman in his impassioned X post, the financier is now facing ridicule for his toadying reaction.
Gustaf Kilander<\/strong> has more.<\/a>
The same Big Tech CEOs who stood in the crowd and cheered as Donald Trump was inaugurated in January have lost a combined $80 billion in net worths since he announced sweeping tariffs on nearly every one of the U.S.\u2019s trading partners last week.
Between \u201cLiberation Day\u201d on April 2 and Wednesday, April 9, Meta CEO Mark Zuckerberg, Amazon co-founder Jeff Bezos and Tesla CEO Elon Musk have seen their net worth plunge, according to the Bloomberg Billionaire Index.
Ariana Baio<\/strong> takes a closer look.<\/a>
Michigan Governor Gretchen Whitmer was in the Oval Office yesterday and broke with many of her colleagues when she described the president\u2019s volatile tariffs favorably as the sort of \u201cblunt tool\u201d necessary to bring manufacturing back to the U.S.
Seemingly joining her California counterpart Gavin Newsom in making an early play for future conservative votes, Whitmer\u2019s comments drew praise from Trump, who may have been as surprised by them as anyone.
Madeline Sherratt<\/strong> reports.<\/a>
Sean Hannity, Laura Ingraham, Jesse Watters and Jeanine Pirro were among the conservative network\u2019s hosts claiming last night that the president\u2019s 90-day tariff freeze was a brilliant masterstroke and not a desperate rowback.
James Liddell<\/strong> has more on their reaction.<\/a>
Ron Johnson of Wisconsin, normally a MAGA stalwart, confesses that the president has lost him on this one.
The Trump administration has abruptly replaced FBI Director Kash Patel as acting director of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF).
Secretary of the Army Dan Driscoll has been named interim head of ATF while continuing to lead the Army, a person familiar with the matter told The Independent<\/em>.
It\u2019s an unusual dual position that Patel was similarly in when he was tapped to lead both the FBI and ATF in February.
Here\u2019s Ariana Baio <\/strong>with more on the thinking behind the move and on Driscoll.
The European Union (EU) has just announced it will put its own countermeasures against Donald Trump’s tariffs on hold for three months \u201cto give negotiations a chance\u201d.
European Commission President Ursula von der Leyen said in a statement on X: \u201cWe took note of the announcement by President Trump. We want to give negotiations a chance.
\u201cWhile finalising the adoption of the EU countermeasures that saw strong support from our member states, we will put them on hold for 90 days.\u201d
Here\u2019s Sean O\u2019Grady<\/strong>\u2019s take on Musk\u2019s spat with the aforementioned Peter Navarro this week as the tariff tension boiled over into public view.<\/a>
The tech billionaire\u2019s controversial Department of Government Efficiency (DOGE), tasked by Trump with stripping back excess spending from the federal government, is reportedly being audited by the Government Accountability Office (GAO).
The GAO \u2013 a non-partisan, independent agency that works for Congress \u2013 has been investigating DOGE since last month, according to sources and records reviewed by Wired.
The audit is understood to be specifically targeting DOGE\u2019s access to and use of sensitive government data.
Mary Papenfuss<\/strong> reports.
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Notifications can be managed in browser preferences.Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inPresident\u2019s move to suspend levies sends financial markets soaring as White House and conservative allies attempt to spin climbdown as brilliant manoeuvre by master dealmakerFrom reproductive […]<\/p>\n","protected":false},"author":1,"featured_media":133186,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-133185","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world","entry"],"_links":{"self":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/133185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/comments?post=133185"}],"version-history":[{"count":0,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/133185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media\/133186"}],"wp:attachment":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media?parent=133185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/categories?post=133185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/tags?post=133185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}