Trump wrote on his social media platform Truth Social that "it's a great time to buy" a few hours before the announcement that tariffs would be paused for 90 days. The American stock exchanges surged upward when the pause became known.
"Who in the administration knew about Trump's latest U-turn on tariffs in advance? Did anyone buy or sell shares and make money at the public's expense?" writes Democratic Senator Adam Schiff on X.
The White House responds that Trump only wanted to "calm" the public.
It is the US President's responsibility to calm markets and Americans about their economic security in the face of the constant scaremongering in the media, says White House spokesperson Kush Desai to The Washington Post.
Trump signed off on his post on Truth Social with "DJT" – both his initials and the stock market abbreviation for his media company, Trump Media & Technology. The company's share rose 21.7 percent on Wednesday.
