President Donald Trump defended his abrupt decision to pause new tariffs on several countries, saying Americans had become “a little bit yippy” and “afraid” amid growing fears of an economic downturn.
Speaking from the White House, Trump justified the 90-day pause on tariffs by emphasizing the need for flexibility in trade policies as markets remain volatile.
“They were getting a little bit yippy, a little bit afraid.”
President Trump said he decided to pause some tariffs because “people were jumping a little bit out of line.” trib.al/OLC85qR
View replies
0
Reply
Copy link
The Trump administration had initially announced sweeping country-specific tariffs, triggering sharp sell-offs across US stock markets and raising alarms among American businesses and retirees.
However, in a post on his Truth Social platform, Trump said he had authorized a temporary 10% tariff rate for most trade partners—down from the earlier, more aggressive measures.
The exception remains China, whose tariff rate has been increased to a steep 125%, effective immediately.
Trump claimed that over 75 countries have already reached out to US officials to negotiate new trade deals.
Despite this claim, the White House confirmed to NBC News that it would not release the list of nations that initiated talks, fueling further speculation about the true extent of international outreach.
“They were getting a little bit yippy, a little bit afraid,” Trump told reporters, standing alongside auto racing champions at the White House.
“No other president would have done what I did. It had to be done,” he said, referring to his aggressive trade strategy.
Trump also stressed the importance of flexibility, suggesting that dynamic policy shifts are crucial during high-stakes global negotiations.
Meanwhile, China has responded with retaliatory measures, announcing an 84% tariff on US goods starting April 10.
The escalating tensions have added to Wall Street’s volatility, with analysts warning that prolonged trade wars could push the US economy closer to recession.
Adding to the growing concerns, JPMorgan Chase CEO Jamie Dimon stated in an interview that a recession is a “likely outcome” if the tariff battle drags on.
Trump, who said he watched Dimon’s interview earlier in the day, praised the banking executive’s financial expertise.
“He’s very smart and a genius financially. He’s done a fantastic job at the bank,” Trump said.
Meanwhile, the S&P 500 surged 9.3%, the Dow Jones Industrial Average jumped 2,867 points (7.4%), and the Nasdaq Composite skyrocketed 11.7%, marking some of their biggest one-day gains in years.
Trump said tariffs on all countries except China would drop to 10% during the pause, while China’s tariff rate would rise to 125%.
Treasury Secretary Scott Bessent confirmed the lower tariff rate would not apply to sector-specific tariffs as trade negotiations continue.
The post Trump says he paused new tariffs as Americans got ‘a little bit yippy’ over market panic and recession fears appeared first on Invezz
