Fearing a disaster... Sources reveal to CNN the reason behind Trump's temporary suspension of his tariffs.
(CNN) -- Trump's surprising decision to backtrack on his comprehensive tariff plan by announcing a 3-month halt revealed how much political pain he could endure: one week.
Trump said,
On Wednesday, regarding the increasing criticisms that have poured onto the White House over the past week: "They were screaming, they were screaming a little, and they felt a little scared."
And even for a president known for his political fluctuations, his announcement on Wednesday to halt the long-awaited mutual tariffs for 3 months is a stunning reversal from a plan that just a day earlier seemed to be fully supported, and this came at a time when his trade representative was testifying on Capitol Hill about the benefits of tariffs, making it seem as though he was unaware of the halt decision.
It seems that the pressure days from his Republican colleagues, businessmen, and even his close friends did not move Trump, who insisted last week that "my policies will never change."
But by Wednesday, it became clear that the campaign to convince Trump to change his course would not calm down as it turned out, after a sharp sell-off in the U.S. government bond markets, which are usually a safe haven for investors, that the economic repercussions of Trump's strategy could be catastrophic and worse than expected.
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