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"Fear of disaster".. Sources reveal to CNN the reason behind Trump's temporary suspension of tariffs
(CNN) -- The unexpected decision by President Donald Trump to backtrack on his comprehensive tariff plan, by announcing a 3-month suspension, highlights his ability to withstand political pain: one week.
On Wednesday, Trump commented on the increasing criticisms directed at the White House over the past week: "They were screaming, they were screaming a little, and they felt a little scared."
Even for a president known for his political fluctuations, his announcement on Wednesday to suspend the long-awaited reciprocal tariffs for 3 months is a stunning reversal from a plan that just a day earlier he seemed to fully support. This came at a time when his trade representative was testifying on Capitol Hill about the benefits of the tariffs, seemingly unaware of the suspension decision.
It seems that days of pressure from his Republican colleagues, businessmen, and even close friends did not sway Trump, who insisted last week that "my policies will never change."
But by Wednesday, it became clear that the campaign to persuade Trump to change his course would not quiet down, as it became evident after a sharp sell-off in 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 anticipated $.
