In April, congressional trading surged as President Trump launched his tariffs, sending the stock market into a frenzy. Interestingly, some of the most active traders were those who had previously supported a ban on such trading, according to public records.
From April 2nd to April 8th, over 12 House members and their families engaged in transactions involving more than 700 stocks while the market reacted sharply to Trump’s “liberation day” tariffs. An analysis by the Wall Street Journal highlighted this situation in a disclosure application released on Tuesday.
Among the lawmakers, Rep. Ro Khanna (D-Calif.), who had once advocated for a ban on trading, led the activity with more than 200 trades and purchases of over 110 different securities.
Khanna’s office stated that the trades were managed by an external advisor overseeing trusts for his family and noted that the value of these trusts has actually decreased since the tariffs were announced.
Recently, Khanna suggested that the left should reconsider their stance on Elon Musk, and he expressed likely support for stock trading restrictions proposed by a bipartisan group of lawmakers.
When questioned about a potential White House candidacy, a spokesperson for Khanna mentioned he is primarily focused on congressional efforts.
Meanwhile, Rep. Alexandria Ocasio-Cortez (D-NY) clarified that she does not trade individual stocks, and other lawmakers are indeed exploring legislative measures to further restrict stock trading among their ranks.
Former House Speaker Nancy Pelosi has faced scrutiny for her trading practices. In 2023, her husband, a venture capitalist, reportedly made $38 million in trades shortly before Trump’s inauguration, achieving a remarkable 65% return on his portfolio.
A tracking account on social media, dedicated to monitoring Pelosi’s investments, has garnered 1.1 million followers.
Rep. Marjorie Taylor Greene (R-Ga.) was notably active as well, purchasing at least $28,000 in stocks from companies like FedEx and Amazon after the tariff announcement, making her the sixth most active trader during that tumultuous week.
Despite her significant transactions, Greene noted in a statement that all investments are transparently reported and managed by external financial advisors.
According to the Journal, Rep. Rob Bresnahan (R-Pa.) was the second most active trader that week, with over 100 transactions. A spokesperson indicated that these trades were executed without Bresnahan’s knowledge, managed by an external advisor.
Rep. Julie Johnson (D-Texas) also made notable trades, selling 56 shares just two days prior to Trump’s tariff announcement, with many of those stocks rising afterward.
Johnson’s office stated that the transactions were part of a broader strategy involving an independent financial advisor managing investments.
Rep. Jared Moskowitz (D-Fla.), who has signed a bill to limit trading, made stock purchases at companies like Amazon and Nvidia during the market decline, a move that has since proven beneficial, with at least 20 of these stocks now on the rise. Moskowitz made a couple of sales, each worth around $1,000.
The trades were executed by a financial manager without Moskowitz’s involvement, his spokesperson confirmed.
Finally, Rep. Josh Gottheimer (D-NJ) engaged in riskier call options transactions related to Microsoft during the same unstable period. His spokesperson mentioned that he had previously handed over investment management to an external advisor and is currently working on establishing a blind trust for his investments.
