Rumors swirl as the Trump Administration swiftly denies any consideration of a 90-day pause on tariffs, emphasizing unwavering dedication to fair trade deals.
Key Takeaways
- A false report suggested a 90-day tariff pause, impacting market activity.
- The White House labeled the rumor “fake news” and quickly dispelled it.
- The report originated from a misleading social media post.
- Financial media outlets initially spread the misinformation before retracting.
- The White House emphasized the need for economic measures, mainly with China.
Rumor Beginnings and Market Impact
The rumor of a potential 90-day pause on tariffs, emanating from a social media post by the account Walter Bloomberg, caused a ripple through financial markets. The post inaccurately suggested an imminent shift in Trump’s trade policy, barring China from this proposed pause. Financial news outlets like CNBC and Reuters quickly amplified the story without validation, spurring temporary market optimism. However, subsequent corrections followed after the administration’s clear rebuttal.
News of the purported pause saw stocks briefly surge before the White House swiftly dismissed the claims as “fake news” and set the record straight. Kevin Hassett, director of the National Economic Council, confirmed that the decision was solely in the president’s hands. “I think the president is going to decide what the president is going to decide,” Hassett stressed regarding the tariff policy’s direction.
Case you’re wondering why the market is all over the place this morning… It’s because of a report that Trump was considering a 90 day pause on tariffs. The White House vehemently denied the report, hence the down-up-down rollercoaster with the markets. https://t.co/BXjwNRLcPq
— Joe Concha (@JoeConchaTV) April 7, 2025
Trump’s Commitment to Economic Strategy
President Trump’s administration quickly clarified that no tariff pause was under consideration, underlining the strategy’s long-term benefits for domestic growth. Trump declared his tariffs as leading the U.S. toward economic “GREATNESS,” dismissing critics from the billionaire sector. Figures like Bill Ackman, Jamie Dimon, and Richard Branson argued against potential economic harm from the ongoing trade tensions.
“The United States has a chance to do something that should have been done DECADES AGO,” reads a post by Trump.
Despite billionaire criticism, the administration reaffirms that these tariffs will settle historic trade imbalances, particularly pointing to China. President Trump motivated Americans to endure present challenges for the prospect of future economic prosperity.
Breaking: The White House pushed back on reports that President Trump is considering a 90-day pause on tariffs. Stock swung wildly, surging into gains before falling back down. https://t.co/rADi2vcRXI
— The Wall Street Journal (@WSJ) April 7, 2025
Volatility and Miscommunications
The false report spotlights the volatility of financial markets influenced by social media misinformation. A misinterpretation of comments by Kevin Hassett in a Fox News interview fueled the spread of incorrect information. The administration reiterated its stance within twenty minutes, negating the rumors entirely.
“THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HANG TOUGH, it won’t be easy, but the end result will be historic,” continued Trump on social media.
The temporary market rise following the false news quickly reversed, prompting reflection on Wall Street’s nervousness over trade policy impacts. The administration maintains robust tariff policies, underscoring their necessity for fair trade and economic reform.
