On April 7, 2025, rumors emerged suggesting that President Donald Trump was considering a 90-day pause on tariffs for all countries except China. These reports were based on misinterpreted comments from Kevin Hassett, Chairman of the Council of Economic Advisers, during a Fox News interview. The misinformation led to significant volatility in the stock market, with the S&P 500 initially dropping into bear market territory before surging 8.5% in a short span, adding approximately $3.6 trillion in market value. check full news about Is Trump considering a 90-day pause in tariffs for all countries.
Is Trump considering a 90-day pause in tariffs for all countries?
The White House promptly addressed the situation, categorically denying that President Trump was contemplating such a tariff pause. A White House official labeled the circulating reports as “FAKE NEWS,” emphasizing that Hassett’s remarks had been taken out of context. The administration reaffirmed the President’s commitment to his current tariff strategy, particularly concerning China.
It’s important to note that while the administration dismissed the notion of a broad 90-day tariff pause, there have been instances of temporary tariff suspensions with specific countries. In February 2025, President Trump agreed to a 30-day pause on tariffs with Canada and Mexico to facilitate negotiations on border security and drug trafficking issues. Additionally, in March 2025, the U.S. extended a tariff pause to all imports compliant with the United States-Mexico-Canada Agreement (USMCA) until April 2.
In summary, as of April 7, 2025, President Trump is not considering a 90-day pause in tariffs for all countries. The administration remains steadfast in its current trade policies, with no indications of implementing such a broad tariff suspension.
Impact of this News
As of April 7, 2025, President Donald Trump is not considering a 90-day pause in tariffs for all countries. Recent reports suggesting such a move were based on misinterpreted remarks and have been officially refuted by the White House, which labeled them as “fake news.”
The dissemination of these false rumors had a significant impact on financial markets. On April 7, the S&P 500 initially dropped 4.7%, entering bear market territory, before surging 8.5% within 34 minutes upon the spread of the tariff pause rumor. This rapid fluctuation added approximately $3.6 trillion in market value. However, once the White House dismissed the reports, the market gains were reversed, underscoring the sensitivity of financial markets to trade policy speculations.
In contrast to these rumors, President Trump has recently intensified tariff measures. He announced an additional 50% tariff on Chinese goods starting April 9, raising the total new duties on Chinese imports to 104% in 2025. This escalation has contributed to significant declines in global stock markets and heightened fears of a global recession.
While there have been instances of temporary tariff pauses with specific countries—such as the 30-day suspension with Mexico and Canada in February 2025 to address border security and drug trafficking concerns— these were targeted measures and not indicative of a broader tariff pause for all countries.
Therefore, the current administration is not considering a universal 90-day tariff pause, and recent actions suggest a continuation or escalation of tariff policies rather than a relaxation.