The Daily A U-Turn on Tariffs
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Apr 10, 2025 
Jonathan Swan, a White House reporter for The New York Times, and David Pierson, a foreign correspondent focusing on China, dive into President Trump's surprising tariff reversal. They discuss the unexpected halt in new tariffs and the intense market pressures behind this decision. The conversation highlights the escalating U.S.-China trade war, the complexities of negotiations, and the looming possibility of retaliation from Beijing. Insights into the strained diplomatic relations add depth to their analysis of current international trade dynamics.
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Trump's Tariff Reversal
- Trump reversed his tariff policy primarily due to fear of a financial crisis.
- The bond market's negative reaction signaled a potential economic downturn, influencing his decision.
Bond Market Meltdown
- The bond market meltdown showed decreased confidence in U.S. government bonds.
- This raised borrowing costs, increasing the risk of recession, according to Peter Goodman.
Influences on Tariff Decision
- Trump's decision to pause tariffs was influenced by conversations with advisors and market pressure.
- The U.S. Trade Representative's unawareness of the pause highlights the rapid, reactive nature of the decision.