Donald Trump: ‘Somebody had to pull the trigger’: Donald Trump defends tariffs, says he reversed them because ‘people were getting yippy’

File picture: US President Donald Trump (Picture credit score: AP)

US President Donald Trump on Wednesday defended his shock choice to pause tariffs on most international locations for 90 days, attributing the reversal to market reactions and what he described as folks getting “a little yippy” and “afraid.”
Speaking to reporters exterior the White House throughout an occasion with NASCAR champions, Trump acknowledged that turmoil in monetary markets, particularly the bond market, prompted him to rethink his tariff stance. “I saw last night where people were getting a little queasy,” Trump stated, including, “The bond market right now is beautiful”.
The president stated his choice to ease tariffs got here collectively “fairly early this morning,” and that it was written “from our hearts” in a Truth Social put up. “We don’t want to hurt countries that don’t want to be hurt, and they all want to negotiate,” he stated.
Trump emphasised that whereas he has backed off tariffs on most nations, duties on China were raised additional to 125%. “China was the biggest abuser in history,” he stated, claiming Beijing needs a deal however “doesn’t quite know how to go about it.” Trump predicted that “a deal’s going to be made with China. A deal’s going to be made with every one of them,” referring to different US commerce companions.
Trump additionally defended his preliminary push for sweeping tariffs, saying the commerce surroundings was “not sustainable” and that “somebody had to pull the trigger. I was willing to pull the trigger,” he advised reporters.
Asked about how he would possibly decide exemptions for firms hit onerous by tariffs, Trump dismissed the concept of making use of technical standards. “Just instinctively,” he stated. “You almost can’t take a pencil to paper. It’s really more of an instinct”.
Earlier in the day, Trump’s announcement of a 90-day pause and a lowered 10% reciprocal tariff despatched US markets hovering. The S&P 500 recorded one in every of its greatest one-day good points since World War II, surging 9.5%, whereas the Dow Jones Industrial Average jumped almost 3,000 factors.
Despite the dramatic turnaround, Trump stated the state of affairs stays fluid, “Nothing’s over yet.” Still, he insisted that flexibility is crucial in policymaking. “You have to have flexibility,” he stated, defending his shift in tone after beforehand insisting there can be no pause.