Trump pauses tariffs amid public 'yippy' reaction

In a significant policy shift, President Trump announced a 90-day pause on previously imposed tariffs, opting for a lower 10% universal tariff instead. He attributed this decision to a perceived public panic, stating that people were getting 'yippy' and 'afraid,' as market conditions suggested a looming recession. This announcement followed a steep decline in U.S. stock markets and rising Treasury bond yields, which experts warn could signal a financial crisis. Despite the reversal, Trump maintained that his previous tariff actions were unprecedented and beneficial. The decision sent U.S. stocks soaring, reflecting investor optimism amidst ongoing trade tensions with China. The move has drawn mixed reactions, with some viewing it as necessary relief while others criticize it as a sign of governmental chaos.