Multiple mainstream media outlets had to retract reports that President Donald Trump was considering a 90-day pause on the tariffs he announced last week, some of which went into effect over the weekend.
The Wall Street Journal reported that CNBC briefly sent the stock market soaring on an unconfirmed report of the supposed pause.
“The information, which appeared on CNBC’s news chyron, was also amplified by several other outlets, including Reuters. The S&P 500 briefly surged some 7%, then fell back to earth within minutes,” the Journal said.
“As we were chasing the news of the market moves in real-time, we aired unconfirmed information in a banner. Our reporters quickly made a correction on air,” a CNBC spokeswoman said.
Rumours of 90 day pause in tariffs has turned markets completely around. Stocks from minus 4% to a plus. Yield strongly up. We’ll see if the rumours are more than that?! pic.twitter.com/eS4gYwBAkr
— Frederik Engholm (@FrederikEngholm) April 7, 2025
White House press secretary Karoline Leavitt told a CNBC reporter Monday morning that the report was “fake news.”
The official White House rapid response team posted a video on social media platform X of the reporter making the correction on CNBC’s air, which Leavitt then reposted.
.@PressSec: Reports that @POTUS is considering a 90-day pause on tariffs are FAKE NEWS. pic.twitter.com/UfXO1BhwYW
— Rapid Response 47 (@RapidResponse47) April 7, 2025
Do you trust the mainstream media?
Reuters followed with a correction, saying it had been “drawing from a headline on CNBC.”
“Reuters has withdrawn the incorrect report and regrets its error,” it concluded.
CNBC apparently initially drew its false conclusion from comments White House National Economic Council Director Kevin Hassett made on Fox News Monday morning.
When asked if the White House would consider a 90-day pause, Hassett at first stated “yeah,” seemingly expressing that he understood the new question as he finished a previous response, but he quickly added, “The president is going to decide what the president is going to decide.”
Hassett then explained that over 50 countries have reached out to Trump to start trade negotiations since his announcement of the new tariff regime last week.
He also urged people to keep the 10 percent baseline tariff in context.
“It’s on 14 percent [Gross Domestic Product]. That’s how much trade we have. How many imports, and so 86 percent of GDP is affected by the deregulation, and the tax cuts, and everything else the administration is pursuing economically,” Hassett said.
Wrong. Not only did Director Hassett not say this (clip below), @POTUS has been clear — “it all has to change, but especially with CHINA!!!” https://t.co/3Kvt8AScAZ pic.twitter.com/JHucHjZm3S
— Rapid Response 47 (@RapidResponse47) April 7, 2025
Trump confirmed world leaders are reaching out to him, posting Monday on Truth Social, “Countries from all over the World are talking to us. Tough but fair parameters are being set.”
“Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other “things.” It all has to change, but especially with CHINA!!!” the president added.
Countries from all over the World are talking to us. Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) April 7, 2025
In another post, Trump wrote, “The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! “Don’t be a PANICAN (A new party based on Weak and Stupid people!).
“Be Strong, Courageous, and Patient, and GREATNESS will be the result!”
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