Transportation Secretary Sean Duffy Sold Stocks Two Days Before Trump Announced a Plan for Reciprocal Tariffs

Published: Monday, May 19, 2025 at 5:15 pm

**Sean Duffy's Stock Sales Raise Questions Amid Trump Tariff Plans**

ProPublica reports that former Transportation Secretary Sean Duffy sold stock in numerous companies just days before President Trump announced reciprocal tariffs on foreign imports. The sales, totaling between $75,000 and $600,000, occurred on February 11th, near the stock market's peak, preceding a downturn linked to tariff concerns.

Duffy, who previously served as a Congressman, introduced the "United States Reciprocal Trade Act" in 2019, mirroring Trump's tariff strategy. While Transportation Secretaries typically don't handle tariff policy, Duffy has publicly supported Trump's trade agenda. The timing of the sales has raised questions, especially given the potential for insider trading violations under the STOCK Act.

A Transportation Department spokesperson stated that an outside manager handled the trades, and Duffy had no input on the timing. However, the sales included shares in companies like Shopify and John Deere, which are directly impacted by tariffs. This is the second instance of a cabinet member selling stock at an opportune time, following Attorney General Pam Bondi's sale of Trump Media shares.

The ethics agreement Duffy signed required him to divest stock in seven companies within his first three months in office. The remaining 27 stocks were not subject to the agreement. The S&P 500 fell significantly in the weeks following Duffy's sales.

BNN's Perspective: While the timing of Mr. Duffy's stock sales is certainly eyebrow-raising, it's crucial to avoid jumping to conclusions. The defense that an outside manager handled the trades is a common one, and without concrete evidence of insider knowledge, it's difficult to definitively accuse him of wrongdoing. However, the appearance of impropriety is undeniable, and a thorough investigation is warranted to maintain public trust.

Keywords: Sean Duffy, Donald Trump, tariffs, stock sales, insider trading, ProPublica, Transportation Secretary, reciprocal tariffs, United States Reciprocal Trade Act, ethics, market crash, Shopify, John Deere, STOCK Act, government ethics, cabinet member, Pam Bondi, Trump Media, Liberation Day

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