The Trump administration swiftly dispelled rumors of a 90-day tariff suspension, emphasizing their commitment to President Trump’s trade goals.
Key Takeaways
- A false report of a tariff pause caused market volatility.
- The White House labeled the report as “fake news” and took swift action to correct it.
- The account behind the rumor was unaffiliated with Bloomberg News.
- Market reactions highlighted the risks of misinformation.
- Trump maintains that tariffs will lead to significant long-term benefits.
Trump Administration’s Swift Response
The Trump administration promptly countered rumors of a 90-day suspension of tariffs, particularly those excluding Chinese goods. This narrative originated from a social media account falsely purporting to be linked with Bloomberg News. Within minutes, the White House branded the rumor as “fake news” and reaffirmed its firm stance on tariffs.
The misinformation briefly affected U.S. markets, causing fluctuations. However, after the White House’s clarification, markets corrected themselves, illustrating the critical nature of verified news. CNBC and Reuters, responsible for spreading the false narrative, later corrected their reports, further emphasizing the rapid spread of misinformation in today’s digital age.
JUST IN: Reports of a "90-day tariff pause" are false, according to the White House.
The announcement comes after news started spreading that President Trump was considering a pause on all tariffs, except for China.
"[Karoline Leavitt] tells me it is, 'fake news that the White… pic.twitter.com/mOi5TgtF3y
— Collin Rugg (@CollinRugg) April 7, 2025
Comments and Clarifications
Misinterpretation of comments by Kevin Hassett during a Fox News interview further fueled the confusion. Social media wrongly implied Hassett indicated a tariff suspension was being considered for all but China, which was not the case. Hassett’s actual statement was, “I think the president will decide what the president is going to decide,” underscoring that any decision rests with the president.
This chain of events underscores Wall Street’s anxiety over potential tariff impacts and the ripple effect of hasty assertions. The White House emphasized that policy changes are vital, especially with China, addressing unfair trade practices through a proposed ten percent baseline tariff for most U.S. trade partners.
🚨 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
Long-term Economic Strategy
Despite short-term turbulence, President Trump remains steadfast about tariffs’ long-term economic benefits. He believes America is on the brink of a significant economic shift, encouraging Americans to “HANG TOUGH” for historic results. His administration recognizes potential challenges but considers these measures necessary for enhancing domestic manufacturing and restoring trade fairness.
“THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HANG TOUGH, it won’t be easy, but the end result will be historic,” Trump posted on Truth Social.
Criticism comes from high-profile figures like Bill Ackman and Elon Musk, voicing concerns over potential economic disruption. Nevertheless, Trump and his administration stay resolute, claiming the tariffs’ benefits will outweigh drawbacks, ultimately leading to what Trump describes as economic “GREATNESS.”
