President Donald Trump said on Wed (April 9) he had been thinking about a 90-day pause in his tariffs for the last few days and that the plan came together earlier in the morning.
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00:00President Donald Trump said on Wednesday he had been thinking about a 90-day pause in his tariffs for the last few days and that the plan came together earlier in the morning.
00:10Trump on Wednesday abruptly paused part of his tariff assault on global trading partners, dialing back duty rates on goods from many countries for 90 days to allow room to negotiate lower trade barriers, even as he hiked new tariffs on Chinese goods to 125 percent.
00:30Was this idea of doing a pause, did that just come about this morning? Can you tell us exactly what came into consideration for you and your advisors?
00:37For a period of time, I would say this morning, over the last few days I've been thinking about it. I've been dealing with Scott, with Howard, with some other people that are very professional and I think it probably came together early this morning, fairly early this morning.
00:54I just wrote it up. I didn't, we didn't have the use of, we didn't have access to lawyers or we just wrote up, we wrote it up from our hearts, right?
01:03It was written from the heart and I think it was well written too, but it was written from the heart. It was written as something that I think was very positive for the world and for us.
01:14And we don't want to hurt countries that don't need to be hurt. And they all want to negotiate. The only problem is, you know, you can only do so many at one time. It's like, it's, we want to do it right.
01:26We want to get it right. We want to take care of them, but we have to take care of our country.
01:30So, but this was something certainly we've been talking about for a period of time and we decided to pull the trigger and we did it today and we're happy about it.
01:41I didn't know it would have that kind of an impact, but it's, you know, I think they have the biggest increase in the history of the stock market. That's pretty good. That's pretty, you're almost, you know, if you keep going, you're going to be back to where it was four weeks ago.
01:54The move, following a week of market turmoil that has wiped out trillions of dollars in stock values, was the latest course reversal in Trump's hastily rolled out tariff agenda, sowing confusion about its objectives.