US EditionWhy did Donald Trump buckle?
- President Trump paused his reciprocal tariff policy, announcing this at a Rose Garden ceremony eight days prior, called 'Liberation Day'.
- Trump's announcement followed turbulence in the bond market and rising yields that spooked financial commentators and Trump himself.
- Treasury bond disruptions and market pressure, stemming from cratering stocks, political peril, and rising borrowing costs, contributed to the policy shift.
- Lawrence Summers warned, "developments in the last 24 hours suggest we may be headed for a serious financial crisis wholly induced by US government tariff policy."
- Following Trump's announcement of the 90-day pause, the Dow Jones Index rose over 2,000 points, and Goldman Sachs trimmed the US recession forecast.
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Donald Trump’s climbdown will be a turning point in his presidency
Editorial: Market forces have shown that the US president, for all his self-belief, is not invulnerable. The undoing of his foolhardy fiscal strategy is a wake-up call for the American establishment, which needs to recover its nerve and offer some checks and balances of its own
·London, United Kingdom
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Financial TimesReposted by 
Irish Times
Irish TimesWhy did Donald Trump buckle?
The market turmoil and pressure from Wall Street to Capitol Hill proved too much for the US president
·London, United Kingdom
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Coverage Details
Total News Sources17
Leaning Left7Leaning Right1Center5Last UpdatedBias Distribution54% Left
Bias Distribution
- 54% of the sources lean Left
54% Left
L 54%
C 38%
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