https://www.newsweek.com/trump-authorizes-90-day-pause-reciprocal-tariffs-stocks-skyrocket-2057589
Amid a global market meltdown, President Donald Trump abruptly reversed course by pausing most of his tariffs on U.S. trade partners for 90 days, while sharply increasing the tariff rate on Chinese imports to 125 percent.
"I have authorized a 90 day PAUSE," Trump said, after recognizing the more than 75 countries that he said have been negotiating on trade and had not retaliated against his latest increase in tariffs.
Speaking to reporters outside of the White House on Wednesday, the president said about this tariff pause, "I thought that people were jumping a little bit out of line. They were getting yippy, you know. They were getting a little bit yippy, a little bit afraid."
Republican Sen. Rand Paul of Kentucky said about the tariff pause, "I hope there's a lesson learned. When you add a bunch of tariffs, you'll lose six trillion in the marketplace. When you get rid of the tariffs, guess what, it comes bounding back."
I wonder how many people had inside information as to the timing of these various announcements. Would've handy to know when the market was going to crash, when it would hit rock bottom and when to start buying again. Hmmmm.
ReplyDeletePlenty of people must be smiling 😄
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