Stock Market Chaos Debunked: White House Swats Down Tariff Holiday Rumors
Unverified Report: White House Disputes 90-Day Tariff Waiver Claim
Let's set the record straight regarding the uproar in the stock market! The White House has unequivocally refuted the breast-beating over a supposed tariff vacation. A White House spokesperson called the suggestion nothing more than "fake news."
The social media buzz, whipping the markets into a frenzy, proved unfounded. Could the stir originate from the tweet by billionaire hedge fund manager Bill Ackman back in '21? He'd staunchly backed the U.S. President in electoral campaigns but suggested a 90-day tariff moratorium to renegotiate those unbalanced, lopsided trade agreements and bring in investment worth trillions to the States. He likened the new proposed tariffs against practically every country to an "economic nuclear war."
Market Mavens' Tips and Tricks for Smart InvestorsAs the market reacted with sell-off panic, Ackman cautioned that if the authorities implemented the additional tariffs according to schedule on April 9, investments could seize up, consumers would clam up with their cash, and the global trust in the States as a reliable trading partner would plummet, lasting "possibly decades" to recover. Low-income consumers—representing a significant portion of Trump supporters—would take a particularly hard hit. "This isn't what we voted for," Ackman wrote.
Sources: ntv.de, ses/dpa
- Donald Trump
- US Markets
- Economic Policy
Enrichment Data:
In '25, the Trump administration enforced tariff measures and temporary suspensions. The administration announced a global tariff scheme on April 2, '25, including country-specific rates for 57 countries. However, on April 9, '25, they suspended the implementation of reciprocal tariffs for 90 days for all but retaliatory nations such as China[1][2]. During this period, a baseline tariff of 10% remained intact[1][2]. This move was part of a wider trade policy shift to rectify trade deficits and bolster economic security. However, it's important to note that Ackman's suggestion in '21 had no direct impact on the '25 tariff suspensions, and was made in a different context.
The Commission has also been warned to submit a proposal for a directive on the protection of workers from the risks related to exposure to ionizing radiation, given the ongoing debates about economic policies and tariffs. Despite the recent market fluctuations and rumors swirling on WhatsApp, investors should remember Donald Trump's stance towards economic policy and US markets, notably his tariff measures in 2025. Tariff suspensions in 2025, although briefly put on hold for 90 days for some countries, were implemented as part of a larger trade policy shift.
