Trump’s Tariff Twist: From “Fake News” to 90-Day Pause in 48 Hours

In a plot twist that could give even the most seasoned soap opera writer whiplash, President Donald Trump has pulled a stunning about-face on his tariff strategy. Just two days after the White House dismissed reports of a 90-day tariff pause as “fake news,” Trump announced on April 9, 2025, that he’s doing exactly that—pausing “reciprocal” tariffs for 90 days on over 75 countries, while jacking up duties on China to a whopping 125%. The sudden reversal has left markets soaring, critics cackling, and everyone else wondering if Trump’s playing 4D chess or just winging it.

Let’s rewind. On April 7, a Reuters headline claiming Trump was mulling a 90-day tariff timeout sent stocks on a brief joyride before the White House swooped in to squash it. Press Secretary Karoline Leavitt called it “fake news” on CNN, and Trump himself denied it, sticking to his guns about reordering the global economy with his April 2 tariff blitz—10% baseline levies on 180+ countries, plus higher “reciprocal” rates like 34% on China and 20% on Europe. The markets tanked, shedding trillions as China clapped back with 84% duties and the EU approved retaliation. Cue chaos: the Dow dropped over 2,200 points in two days, and Goldman Sachs slashed its 2025 GDP forecast to a grim 0.5%.

Fast forward to April 9, and Trump’s singing a different tune. In a Truth Social post, he declared, “I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” citing calls from “more than 75 Countries” eager to negotiate. China, however, gets no such breather—Trump hiked its tariffs to 125%, blaming their “lack of respect” for world markets. Speaking to reporters outside the White House, he shrugged off the flip-flop, saying, “People were getting a little bit afraid,” as if he hadn’t spent the last week insisting fear was for losers.

The markets ate it up. The Nasdaq shot up 12%—its biggest one-day gain since 2001—while the S&P 500 and Dow clawed back losses. X lit up with reactions: @StockRetail tied the rally to Trump’s pause, while @hissgoescobra snarked that he’d “refuted himself 10 ways to Sunday.” Wall Street strategists, like Interactive Brokers’ Steve Sosnick, called it a “surprise” after the administration’s hardline stance, per The Telegraph. Even billionaire Bill Ackman, who’d begged for a 90-day breather hours earlier on X, must be smirking—though it’s unclear if his plea tipped the scales or just predicted the inevitable.

So, what’s the game here? Treasury Secretary Scott Bessent insists it’s all part of Trump’s “strategy,” telling CBS News the pause lets Trump “personally” negotiate deals. Critics, though, see a president buckling under pressure from allies like Elon Musk and a market meltdown too ugly to ignore. Either way, this 90-day window—excluding China—buys time, but with global retaliation still simmering, it’s anyone’s guess if Trump’s tariff tango ends in triumph or more turmoil. For now, the “fake news” is real, and the world’s watching.