StmarysCity79
Well-Known Member
Realizing he tanked the stock market, international travel to the US and the value of the dollar and US bonds Trump quickly pauses his wrongheaded tariff plans.
President Donald Trump said Wednesday that he is pausing his tariffs regime for 90 days on more than 75 trading partners who did not retaliate in the hours after it went into effect, a stunning reversal from the White House after days of painfully volatile moves in U.S. markets.
The announcement came just hours after Trump appeared to be digging in, telling Americans “BE COOL” in a Truth Social post, insisting: “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 — he suggested not that long ago the tariffs could be permanent. But a growing chorus of his allies and business leaders came out publicly against the tariffs, including Elon Musk.
But markets have been in turmoil — major stock indexes shed trillions of dollars in value, while alarming signals from the bond market set Wall Street on edge.
www.nbcnews.com
President Donald Trump said Wednesday that he is pausing his tariffs regime for 90 days on more than 75 trading partners who did not retaliate in the hours after it went into effect, a stunning reversal from the White House after days of painfully volatile moves in U.S. markets.
The announcement came just hours after Trump appeared to be digging in, telling Americans “BE COOL” in a Truth Social post, insisting: “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 — he suggested not that long ago the tariffs could be permanent. But a growing chorus of his allies and business leaders came out publicly against the tariffs, including Elon Musk.
But markets have been in turmoil — major stock indexes shed trillions of dollars in value, while alarming signals from the bond market set Wall Street on edge.
Trump suddenly pauses global tariff plan after days of economic and market turmoil
The president put a 90-day pause on higher import duties for dozens of countries, but hiked levies on China to 125%.
www.nbcnews.com
