Trump pauses most international tariffs, however penalties for Canada and Mexico unclear

Trump says it wasn’t bond markets that pressured him to again down

Exterior the White Home simply now, a reporter requested Trump whether or not it was the unnerving exercise on the bond markets that pushed him to take a break from tariffs.

He mentioned it was not, however admitted he realized individuals have been getting “queasy.”

“No. I used to be watching the bond market. I used to be watching it. However when you take a look at it now, it is stunning. The bond market proper now could be stunning. I noticed it final night time, the place individuals have been getting a little bit queasy,” he mentioned, earlier than trailing off to revisit the preliminary tariff announcement final week.

One worldwide financial coverage knowledgeable mentioned she thinks the bond markets are precisely what swayed Trump.

“Clearly, President Trump bought spooked by the markets, though he mentioned he would not, so this reversal is admittedly him reacting to the downgrading of the U.S. market that we began seeing this morning,” Inu Manak, a fellow for commerce coverage on the Council on Overseas Relations, instructed CBC Information.

“He bought scared and reacted. And he is saying he is being versatile, however I do not assume that is the case.”