After three days of a disastrous stock market crash and this morning's public warning of a recession, Donald Trump frantically backpedaled, taking back his "reciprocal tariff" mistake. "I have authorized a 90 day PAUSE," the erratic president posted, nixing most of his imbecilic global trade war for at least the next three months.
His "pause" will be granted to the "more than 75 Countries" who "have called Representatives of the United States…to negotiate a solution to the subjects being discussed relative to Trade," he said on Truth Social, adding that "these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States."
But China, on the other hand, will have its tariff raised to 125%, so that it will "realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable."
The reversal of his doomed plan caused the stock market to soar immediately after his announcement, which Teflon Trump will surely celebrate as a big feather in his red cap, and will undoubtedly be met with tears of adulation by his worshipping MAGA mob. As the pundits on Russian state TV said the other day, "Well done, old man!"
From NBC News:
In a post on X just before 1:30 p.m., Trump wrote the move was based on the fact that these countries had called in to "discuss" the issues Trump had raised regarding their alleged trade barriers with the U.S.
The announcement came just hours after Trump appeared to be digging in, telling Americans "BE COOL" in a Truth Social post, insisting that, "Everything is going to work out well. The USA will be bigger and better than ever before!"
It's not clear what prompted Trump to change his mind — a growing chorus of his allies, and business leaders have come out publicly against the tariffs — including Elon Musk. Stocks have had a wild few days as investors became increasingly pessimistic. When a false-at-the-time headline suggesting Trump would take a 90-day pause shot around the internet on Monday, markets briefly soared on the news.
A 10% across-the-board duty will remain in place for the 75 non-retaliating countries, Trump added.
Previously: Trump's own secretary of treasury can't answer the question, "Why tariffs?" (video)
