Earlier today, the White House issued a statement dismissing rumors of a potential 90-day pause on the administration’s tariff plans, labeling such reports as “fake news.”
Subsequently, during a White House press conference, President Donald Trump officially confirmed that these rumors are unfounded and reiterated his commitment to implementing the tariffs as scheduled.
The confusion originated from misinterpretations of comments made by National Economic Council Director Kevin Hassett during a Fox News interview. When asked about the possibility of a 90-day tariff pause, Hassett responded, “I think the president is going to decide what the president is going to decide.”
This noncommittal statement was erroneously construed by some as an indication of a potential delay in tariff implementation. The misinformation was further amplified by identical social media posts claiming that President Trump was considering a tariff pause for all countries except China.
This led to a brief surge in the stock market, with the Dow Jones Industrial Average temporarily recovering from a significant loss before the White House clarified the situation.
During the press conference, President Trump addressed the rumors directly, stating unequivocally that there would be no pause or delay in the tariff plans. He emphasized his administration’s commitment to addressing trade imbalances and protecting American economic interests. The President also expressed his displeasure with the dissemination of false information, highlighting the potential for such rumors to cause unnecessary market volatility and confusion.
The White House’s prompt response and the President’s clear stance aim to dispel any uncertainties regarding the administration’s trade policies. Investors and stakeholders are advised to rely on official communications for accurate information to avoid being misled by unverified reports.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/trump-officially-confirms-10-tariff-pause-rumor-as-fake-news/