President Trump announced a 90-day pause on new tariffs but maintained existing duties and intensified tariffs on China, creating market instability. This reversal was indicative of the economic impact his tariff policies had caused, leading to significant market losses, alarming economists and experts. Despite the initial market rebound after announcing the pause on certain tariffs, anxiety about escalating conflicts with China contributed to further declines. Financial leaders expressed concerns over the long-term implications, pointing out that the tariff situation has become increasingly inflationary rather than alleviating economic pressures.
"Never in human history has a whimsical decision by a single person destroyed so much wealth."
"I don't think people realize that in important respects tariffs are now higher & more inflationary than what was announced on Liberation Day."
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