The White House denied reports that Trump is considering suspending the new tariffs for 90 days.

Claims that President Donald Trump is considering temporarily suspending the customs tariffs applied to all countries except China for 90 days have been refuted by the White House.

White House Press Secretary Karoline Leavitt stated in an announcement to CNBC reporter Eamon Javers that the claims of delay are “fake news.” These allegations surfaced following statements made by White House National Economic Council Director Kevin Hassett in the media. Hassett previously mentioned on Fox News that Trump will listen to words of “great deals” with the country’s trading partners but will ultimately focus on “what he knows works.”

S&P 500 PLUNGES AGAIN

According to CNBC, Hassett mentioned that Trump is considering a 90-day pause on customs duties for all countries except China. Stocks soared after the news. CNBC later reported that White House officials were unaware of Trump’s considerations to suspend the 90-day tariffs for all countries except China, causing stocks to fall again.

NEGOTIATION MESSAGE FROM EU

Meanwhile, the European Union (EU) also expressed readiness to negotiate on tariffs with the United States under the leadership of EU Commission President Ursula von der Leyen. Speaking in Brussels, von der Leyen emphasized that the current US tariffs have had serious impacts, especially on developing countries.

TASK FORCE ESTABLISHED

In addition to negotiation plans, the EU announced the establishment of a monitoring task force to track imports. This step is seen as part of a broader strategy, given that a large part of EU trade is conducted with countries outside the US. Von der Leyen highlighted that 83% of EU trade is done with countries other than the US. Following Trump’s customs tariffs, markets were thrown into turmoil. Stock markets and risky assets like cryptocurrencies experienced record declines.

TRUMP AND TARIFF POLICY

Following Trump’s election as President on November 5, 2024, and his inauguration on January 20, 2025, the US global trade strategy shifted to a more protectionist stance. Concurrent with Trump’s promises to reduce the trade deficit during his candidacy, investors became preoccupied with tariff rhetoric. Subsequent tariff statements ignited risk perceptions in global markets. The recurrent tariff rhetoric became the main agenda item for markets and asset pricing, influencing investors significantly.