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Greene Discloses Stock Purchases Amid Tariff Pause Controversy
Congresswoman Marjorie Taylor Greene has acknowledged purchasing stock valued between tens of thousands and hundreds of thousands of dollars just before and on the day of former President Donald Trump’s tariff pause announcement. This disclosure occurs amidst growing scrutiny and bipartisan calls for investigations into potential insider trading by members of Congress related to stock transactions made around the period of tariff implementations and subsequent pauses. The timing of these trades has raised ethical questions and drawn attention to congressional financial dealings.
Significant Stock Acquisitions Coincide with Trump’s Market Signal
Recent financial disclosures reveal that Greene invested between $21,000 and $315,000 in stock during this critical period. Notably, the latter portion of these purchases aligned with a social media post by then-President Trump, who declared, ‘THIS IS A GREAT TIME TO BUY!’ This pronouncement came as the market reacted to the tariff situation, adding another layer of intrigue to Greene’s trading activities.
Treasury Bill Divestment Precedes Stock Investments
Adding to the timeline of transactions, reports indicate that Greene also divested herself of U.S. Treasury bills, selling between $50,000 and $100,000 worth the day preceding the tariff pause, according to reports from The New York Times.
Prior Stock Trades Under Scrutiny
These new disclosures follow earlier reports this month revealing that Greene executed substantial trades in the days leading up to Trump’s tariff announcement. That announcement had previously sent shockwaves through the stock market, causing it to decline.
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Greene Denies Impropriety, Cites Financial Advisor
While Greene has not issued a public statement regarding these specific trades, she previously responded to inquiries about her stock trading activity last week. In a released statement, she denied any wrongdoing, asserting that a financial advisor manages her investment portfolio.
‘I have entered into a fiduciary agreement to allow my financial advisor discretionary control over my investments,’ Greene stated. ‘All my financial transactions are reported with complete transparency. Unlike many others, I choose not to obscure my stock trades within a blind trust.’
Spokesperson Dismisses Insider Trading Allegations
A spokesperson for Greene, in comments to Newsweek, labeled any potential investigation into alleged misconduct as ‘utterly absurd,’ further defending the congresswoman’s trading activities.
Investment Portfolio Includes Major Corporations
Greene’s stock acquisitions included shares in Apple, which has seen a five percent increase in value since the tariff pause, along with investments in Devon Energy Corporation and Merck & Company pharmaceuticals.
Broader Investment Activity Revealed
Her recent investment portfolio also includes Palantir, which has experienced a 19 percent increase since the pause, and Advanced Micro Devices, showing a 21 percent rise. Further examination shows that the representative made 15 investments between March 16 and March 24.
Substantial Investments in Low-Risk Treasury Bills
Among her most significant financial maneuvers were substantial investments in U.S. Treasury Bills, also known as T-Bills. Specifically, her three largest transactions involved investments in these instruments. T-Bills are recognized as short-term debt obligations that offer lower risk compared to other investment types, typically resulting in more modest returns.
Treasury Bills as a Safe Investment Strategy
However, the inherently low-risk nature of T-Bills means investors are unlikely to suffer financial losses, positioning them as a more secure investment option compared to stocks.
Large T-Bill Transactions Detailed
According to Capitol Trades, a platform specializing in tracking politician trading data, Greene executed transactions of $100,000 to $250,000 per instance in T-Bills on March 16, March 19, and March 24. Filings indicate her total investment in Treasuries ranged between $300,000 and $750,000.
Diverse Investments Across Multiple Sectors
These substantial treasury purchases were interspersed with numerous smaller investments, ranging from $1,000 to $5,000, in companies such as Apple Inc., AbbVie Inc., and Costco Wholesale Group.
Trump’s “Liberation Day” and Tariff Adjustments
Greene’s stock transactions occurred in the days leading up to what Trump termed his ‘Liberation Day’ declaration on April 2. On April 9, Trump posted on his Truth Social platform, ‘THIS IS A GREAT TIME TO BUY!!!’ – a statement issued when the stock market was experiencing a downturn following the implementation of his ‘Liberation Day’ tariffs, which had taken effect at 12:01 a.m. that Wednesday.
Market Rebound Follows Tariff Pause Announcement
Shortly after 1 p.m., the former president announced a modification to his tariff policy. While tariffs on Chinese imports would increase to 125 percent, tariffs for the rest of the world were set at a lower 10 percent. Furthermore, a 90-day pause was implemented on reciprocal tariffs that had been unveiled a week prior. This announcement triggered an immediate upward trend in the stock market.
White House Defends Tariff Strategy
The White House, as conveyed by Treasury Secretary Scott Bessent, attempted to frame the tariff adjustments as a pre-planned strategy. White House press secretary Karoline Leavitt criticized journalists for questioning Trump’s negotiation tactics in light of the market’s initial negative reaction to the tariffs.
Tariff Concerns and Market Instability
Prior to the pause, the stock market had been in a significant decline. Had the tariffs been fully implemented as initially announced, it was anticipated that consumer costs for groceries, alcoholic beverages, clothing, footwear, and electronics would have increased substantially.
Political Fallout Concerns and GOP Unease
There were existing anxieties that the tariff situation could negatively impact the Republican Party in the upcoming midterm elections. Trump acknowledged this apprehension while addressing reporters on the South Lawn, as he hosted NASCAR champions that Wednesday afternoon.
Trump Downplays Market Concerns
Responding to questions about market unease, Trump commented, ‘Well I thought that people were jumping a little bit out of line, they were getting yippy, you know, they were getting a little bit yippy, a little bit afraid, unlike these champions,’ drawing a comparison to the NASCAR winners. ‘Because we have a big job to do.’
“Tricky but Beautiful” Market Situation
When asked if the bond market influenced his decision to reverse course, Trump conceded it was ‘tricky’ but now appeared ‘beautiful.’ He added, ‘But, yeah, I saw last night where people were getting a little queasy.’
“Liberation Day” Declared a Success
Despite none of his more severe reciprocal tariffs having been enacted, Trump still declared “Liberation Day” a triumph. ‘The big move wasn’t what I did today, the big move was what I did on Liberation Day. We had Liberation Day in America. We’re liberated from all of the horrible deals that were made, all the horrible trade deals that were made,’ Trump asserted, emphasizing the significance of his broader trade policies.
Congressional Stock Trade Disclosure Rules
Current regulations mandate that members of Congress must disclose stock trades within 30 days of execution. However, these disclosures permit reporting a wide range of dollar amounts rather than requiring precise figures, providing some flexibility in financial reporting.