Trump confesses he replied to stock market dip
(MENAFN) President Donald Trump has acknowledged that his decision to delay additional tariff increases was partly influenced by a significant drop in the US financial markets. He explained that he was closely monitoring investor sentiment, as people became increasingly nervous and fearful before announcing a 90-day pause on tariff hikes.
After US markets lost over $1.5 trillion in value the previous day, Trump urged Americans to "be cool" and reassured investors that "this is a great time to buy." Just hours later, he confirmed the decision to maintain most tariffs at a baseline 10%, except for China, which saw its tariff rate raised to 125%.
Trump admitted that he had been watching the bond market closely before deciding to act. He commented that market reactions had gotten “a little bit yippy” and “a little bit afraid.”
The president's announcement sparked a historic rally on Wall Street, with the S&P 500 soaring 9.5%, the Dow Jones jumping 7.9%, and the Nasdaq rising 12%, marking the largest single-day gains in years. While the stock market gained back over $5 trillion, Trump insisted that his broader trade actions were the real turning point, describing them as a liberation from previous unfair trade deals.
Trump also mentioned that companies could request tariff exemptions during the 90-day freeze, with decisions made on a case-by-case basis. He stressed that the situation was still evolving, with several countries, including China, negotiating to avoid the full impact of the tariffs.
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