President Trump dispels market-rattling rumors of a tariff pause, reaffirming his commitment to strategic trade negotiations and dismissing false claims as “fake news.”
Quick Takes
- False claims of a 90-day tariff pause were quickly labeled “fake news” by the White House.
- Originating from an unaffiliated account, the rumor temporarily influenced market fluctuations.
- Trump’s tariff strategy remains steadfast, with emphasis on addressing trade imbalances.
- The administration bolsters its stance with public declarations and corrected misinformation.
Origin of the Rumor
False reports suggesting President Trump was considering a 90-day hold on tariffs caused ripples through U.S. markets. The rumors began after a social media post by an account named Walter Bloomberg, not affiliated with Bloomberg News. CNBC and Reuters initially circulated the unverified report causing temporary volatility in the stock market.
The White House swiftly responded, categorizing the claims as “fake news” and reaffirming the administration’s tariff policy. As a result, stock market fluctuations ensued, with the Dow briefly surging and then retracting once clarifications were made.
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
Market Impact and Corrections
Upon the release of this misinformation, the Dow Jones experienced a roller-coaster day, momentarily erasing a 1,700-point drop, only to dive once news of the correction reached investors. The confusion underscored the markets’ vulnerability to unverified news, especially from sources lacking credibility.
The White House took approximately 20 minutes to dispel the rumors, highlighting the importance of verified sources and reliable reporting. Director of the National Economic Council, Kevin Hassett, stated that the decision rests solely with the president, reaffirming no pause was contemplated.
🚨 FAKE NEWS ALERT: President Donald Trump is not considering a 90-day pause on tariffs, White House CONFIRMS.
Sticking to his guns. pic.twitter.com/bUJYyWGGD0
— Eric Daugherty (@EricLDaugh) April 7, 2025
Trump’s Strategic Tariff Approach
President Trump confirmed his continued commitment to tariff adjustments aimed at rectifying unfair trade practices, particularly with China. Trump’s firm belief features prominently in his tariff application as a means to foster U.S. economic revitalization and reduce dependency on foreign imports.
“Some day people will realize that tariffs, for the [U.S.], are a very beautiful thing!” Trump wrote on Truth Social.
This economic strategy, while met with criticism from public figures like Elon Musk and Jamie Dimon, is underscored by Trump’s call for American resilience during this transformative period. His aim for economic “GREATNESS” post-tariffs highlights a long-term vision for growth and prosperity.
