Pam Bondi Sold Over $1M in Shares the Same Day Trump Tariffs Were Announced
Rand Paul Says Kentucky Businesses Are 'Not Excited' About Trump's Tariffs
By Kate Plummer
Attorney General Pam Bondi sold more than $1 million worth of shares the day President Donald Trump announced sweeping tariffs on U.S. trading partners.
According to financial disclosures first reported by ProPublica and seen by Newsweek, Bondi sold between $1 million and $5 million worth of shares in Trump's social media company, Trump Media & Technology Group, on April 2.
Newsweek contacted the Department of Justice by website form for comment outside normal business hours.
Why It Matters
On April 2, which Trump dubbed "Liberation Day," the president announced tariffs on countries all over the world, causing stock markets to plummet. Along with a 10 percent "baseline" tariff on almost all imported goods, Trump introduced "reciprocal" tariffs on some trading partners, such as 20 percent on the European Union and 26 percent on India.
One week later, following the markets' negative reaction, Trump announced a 90-day pause on reciprocal tariffs while maintaining the baseline rate. On his Truth Social platform, hours before announcing the pause in tariffs, Trump wrote: "THIS IS A GREAT TIME TO BUY!!! DJT." The moves have garnered criticism, with some Democrats accusing the president of market manipulation, though there is no evidence to support this claim.
Pam Bondi
Attorney General Pam Bondi speaking at the Department of Justice in Washington, D.C., on May 7. AP Photo/Alex Brandon
What To Know
There is no suggestion of wrongdoing on the part of Bondi. Trump's tariffs were announced after the markets closed, and the disclosure form does not say whether the shares were sold before or after closing time.
The disclosure forms also do not specify the value of the stocks sold, only a range.
According to CBS News, the day after the sale, Trump Media's stock dropped by more than 10 percent.
Bondi received shares worth just under $3 million from Digital World's merger with Trump Media, which is the parent company of Truth Social, according to a filing first reported by Forbes.
In late April, Trump Media rebounded from the lows it saw early in the month, and its stock jumped 57 percent. According to Reuters, Trump Media has about 600,000 investors. The president owns 57.3 percent of the company, according to the Associated Press.
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On February 4, the Senate voted to confirm Bondi as attorney general. In her ethics agreement signed upon assuming the role, Bondi pledged to sell her stake in Trump Media within 90 days of her confirmation, giving her until early May to sell her shares.
What Happens Next
Earlier this week, Trump announced his first trade deal since the Liberation Day tariff announcements, which he described as the first of many.
Bondi, meanwhile, is facing scrutiny over her previous work as a foreign lobbyist for Qatar following reports that the Qatari government wants to give Trump a luxury plane.
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