President Donald Trump has declared a 90-day pause on all new "reciprocal" tariffs, excluding China, which now faces a 125% levy. The decision triggered a massive rally on Wall Street, with the S&P 500 seeing its best day since 2008. Trump emphasized the need to avoid hurting friendly nations. However, economists remain cautious—Goldman Sachs warns of a 45% chance of a U.S. recession. Despite market optimism, analysts suggest the pause may not fully counteract the economic turbulence sparked by the ongoing global trade war.
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#TrumpTariffs #TradeWar #USChina #RecessionFears #WallStreet #TariffPause #NasdaqRally #S&P500 #GlobalMarkets #Economy2025 #GoldmanSachs #JoeBrusuelas #USPolicy #FinancialMarkets #AsiaMarkets #MarketRally #TrumpSpeech #GlobalTrade #ChinaTariffs #ReciprocalTariffs
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NewsTranscript
00:00For the past few days, we've heard from this administration, no pause.
00:03Was this idea of doing a pause, did that just come about this morning?
00:07Can you tell us exactly what came into consideration for you and your advisors?
00:11For a period of time, I would say this morning, over the last few days, I've been thinking about it.
00:15I've been dealing with Scott, with Howard, with some other people that are very professional.
00:21And I think it probably came together early this morning, fairly early this morning.
00:27I 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.
00:34We wrote it up from our hearts. Right. It was written from the heart.
00:39And I think it was well written, too. But it was written from the heart.
00:42It was written as something that I think was very positive for the world and for us.
00:49And we don't want to hurt countries that don't need to be heard.
00:52And they all want to negotiate. The only problem is, you know, you can only do so many at one time.
00:57It's like it's we want to do it right. We want to get it right.
01:02We want to take care of them, but we have to take care of our country.
01:04So but this was something certainly we've been talking about for a period of time.
01:09And we decided to pull the trigger.
01:12And we did it today. And we're happy about it.
01:15I didn't know it would have that kind of an impact.
01:17But it's, you know, I think you have the biggest increase in the history of the stock market.
01:22That'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.
01:28But it was a sick market four weeks ago, you know, because this trade was sick.
01:32It was only a question of time. I don't blame the tariffs.
01:35I think the tariffs just sort of magnified what was happening.
01:40It was it was sick. Biden allowed these people to get away with murder.
01:44Biden allowed China to just take advantage of us.
01:47We had like a trillion dollar deficit with China, trillion dollar deficit.
01:51So that was going to only be a matter of time.
01:54I think the tariffs brought it out faster and they magnified the problem.
01:58But I think this was a problem that existed far beyond tariffs.
02:02This is a this was a systemic problem.
02:06And we're going to cure that problem.
02:08And maybe to a large extent we have because we've revealed it and we've revealed it very strongly.
02:13Yes.
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