• Source:JND
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Speculation swirled on Monday over whether US President Donald Trump was considering a temporary pause on tariffs for most countries — all except China. Media outlets cited White House economic adviser Kevin Hassett, claiming that Trump might implement a 90-day suspension on new tariffs to ease global trade tensions. However, the White House was quick to dismiss the reports, labeling them as "fake news."

The initial report triggered a volatile response from the financial markets. US stocks rose sharply on the news of a possible tariff reprieve, only to fall again once the White House clarified that no such plan was under consideration.

A wire headline claiming that Donald Trump was considering a 90-day delay on new tariffs was dismissed by White House Press Secretary Karoline Leavitt as “fake news” during a conversation with CNBC’s Eamon Javers. The report referenced Kevin Hassett, head of the National Economic Council. Earlier on Fox News, Hassett was asked about the potential tariff pause but gave no clear answer, saying, “The president will decide what he wants to decide.” The initial report, which came from Bloomberg, seemed to contradict statements made by senior White House trade adviser Peter Navarro earlier that day.

Trump Says US Bringing In Billions via Tariffs

Earlier today, Trump also took aim at China, labeling it "the biggest abuser of them all" in a post on Truth Social. He said countries worldwide were engaging with the US on trade and mentioned a conversation with Japan's Prime Minister, who is sending a delegation to negotiate.

Trump criticised Japan for trade imbalances, particularly in the auto and agriculture sectors, and emphasised that change is necessary—especially with China. He also slammed Beijing for retaliating with a 34% tariff hike, despite existing U.S. tariffs, and claimed the American economy is benefiting with falling oil, food, and interest rates, and "no inflation."