The White House has accused the Democrats of playing “partisan games” after Sen. Adam Schiff (D-CA) called for investigations into President Donald Trump’s global tariff plan.
Schiff accused Trump of “insider trading” after the president announced Wednesday that he’s paused the tariffs for 90 days.
After initially accusing the president of destroying the economy with tariffs, Democrats are now claiming Trump manipulated the market.
In a statement, White House spokesman Kush Desai said:
“It is the responsibility of the President of the United States to reassure the markets and Americans about their economic security in the face of nonstop media fearmongering.
“Democrats railed against China’s cheating for decades, and now they’re playing partisan games instead of celebrating President Trump’s decisive action yesterday to finally corner China.”
Schiff and Sen. Ruben Gallego (D-AZ) wrote a letter on Thursday to White House Chief of Staff Susie Wiles and Trade Representative Jamieson Greer.
They are calling for an investigation into potential insider trading.
“This sequence of events raises grave legal and ethics concerns,” the senators wrote.
“The President, his family, and his advisors are uniquely positioned to be privy to and take advantage of non-public information to inform their investment decisions.”
Schiff and Gallego didn’t provide any evidence for the allegations, however.
Trump paused only the higher, customized tariffs he placed on nations that historically installed trade barriers on U.S. goods.
Nations across the world are instead facing a lower 10% tariff on goods.
The president paused the tariffs the Trump administration and world leaders negotiated deals for the reciprocal tariffs.
China, however, was not part of the tariff pause.
Instead, China was hit with a higher 125% tariff after retaliating with its own additional tariffs against the U.S.
However, the Trump administration later clarified that China was already hit with an additional 20% tariff over its fentanyl.
In total, China has been hit with a 145% tariff.
“I’m going to do my best to find out,” Schiff told Time of investigating the president for alleged insider trading.
“Family meme coins and all the rest of it are not beyond insider trading or enriching themselves.
“I hope to find out soon.”
Earlier this week, Trump mocked Schiff during a black-tie Republican dinner in Washington, D.C.
During the event hosted by the National Republican Congressional Committee (NRCC) — the House Republicans’ campaign arm — Trump revealed that he calls Schiff “Watermelon Head.”
Trump continued by mocking Schiff while slamming his role in the 2016 Russia collusion hoax.
“Adam ‘Shifty’ Schiff — can you believe this guy?” Trump said.
“He’s got the smallest neck I’ve ever seen — and the biggest head: We call him Watermelon-Head.”
Trump went on to ponder about how Schiff’s “big fat face” could “stand on a neck” the size of the president’s finger.
“It’s the weirdest thing — it’s a mystery; no one can understand it,” he said.
Trump went on to call Schiff “one of the most dishonest human beings I’ve ever seen.”
He wondered aloud how people like Schiff could be able to run for office.
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