MeidasTouch host Brett Meiselas reports on Trump panicking and pausing the bulk of his tariffs for 90 days as the global economy was spiraling into complete collapse due to his actions. Thanks to Trade Coffee: Get 50% off your one-month trial at drinktrade.com/MEIDAS Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: What triggered Donald Trump to pause tariffs for 90 days?
You started the morning saying, be cool.
Just a few hours later, there was a pause put in on the terrace. Can you walk us through what you're thinking about why you decided to put a 90-day pause?
Well, I thought that people were jumping a little bit out of line. They were getting yippy, you know?
They were getting a little bit yippy, a little bit... We've got some major breaking news. The headline, a panicked and terrified Donald Trump has folded on his tariff plans. In a major policy reversal, Trump announced a 90-day pause on his massive tariffs after he sparked an economic crash globally. My name is Brett Mycelis with the Midas Touch Network.
Remember to hit subscribe now and add the Midas Touch Podcast on Apple Podcasts and Spotify. Stocks were collapsing. The bond market imploding. The 10-year treasury yield was skyrocketing, indicating that mortgage rates and other loans were about to skyrocket. So naturally, Donald Trump did what he does best. He caved.
Effective immediately, all of the tariffs will be capped at 10% for the duration of a 90-day period, with those additional higher tariffs being paused. The only exception is China, which will now face a dramatically increased tariff rate of 125%. So I want to be extra clear here just for a second. Trump has still put a 10% tax on virtually everything Americans will buy.
Costs for businesses will still be higher. Prices for Americans will still be higher. Trump announced the pause on his Truth Social website, writing the following, quote, Based on the lack of respect that China has shown to the world's markets, I am hereby raising the tariff charged to China by the United States of America to 125% effective immediately.
At some point, hopefully in the near future, China will realize that the days of ripping off the USA and other countries is no longer sustainable or acceptable. It's always projection with this guy, right? Let me continue.
Conversely, and based on the fact that more than 75 countries have called representatives of the United States, including the departments of commerce, treasury, and the USTR to negotiate a solution to the subjects being discussed relative to trade, trade barriers, tariffs, currency manipulation, and non-monetary tariffs,
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Chapter 2: How did Trump’s tariff decision affect the global economy?
It's bloody, bloody, bloody, bloody Black Monday. Holy moly. The Kamala crash is here.
Kamala needs to get in front of a camera today. People are losing their homes today. People are losing their fortunes today. People are losing their futures today. People are losing their 401ks today. This is shaping up to be one of the worst... market days in American history.
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Trust me, you will never go back to grocery store coffee. If you remember, just yesterday, Donald Trump was calling any Republican who suggested even pausing the tariffs weak and panikins. So I guess this makes Donald Trump weak and a panikin. And by the way, if tariffs were supposed to make us so rich and strong and be the, quote, medicine that we all needed, then why would he pause them?
Can a single Trump supporter answer that for me? Huh? Crickets? Thought so. Let's pull up some receipts. Here was Trump on April 7th saying that he was not looking into a pause.
Here was Caroline Levin on April 8th saying that no delay was being considered.
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