The White House has firmly denied reports claiming President Donald Trump is considering a 90-day pause on U.S. tariffs, calling the story “fake news.” CNBC, which initially published the claim quoting White House NEC Director Kevin Hassett, later retracted the report. Press Secretary Karoline Leavitt clarified that no such pause is being discussed, and that the story was inaccurate.
The confusion comes amid heightened market volatility, with U.S. markets opening sharply lower on Monday for the third consecutive session. Trump’s ongoing tariff regime has sent shockwaves through global trade and investment, causing steep declines across Asian markets. Benchmarks in Singapore, Australia, Japan, South Korea, and India all suffered notable losses overnight.
.@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
European Commission President Ursula von der Leyen stated the EU is open to negotiating tariff terms with the U.S., but warned that the bloc is equally prepared to retaliate if needed. Meanwhile, billionaire investor and vocal Trump supporter Bill Ackman described the situation as the onset of an “economic nuclear winter.”
Elon Musk and Trump’s trade advisor Peter Navarro also clashed online, continuing a heated public exchange over the future of free trade. Despite the uproar, Commerce Secretary Howard Lutnick reaffirmed that tariffs will not be paused and “will stay in place for days and weeks to come.”
President Trump is also expected to meet with Israeli Prime Minister Benjamin Netanyahu at the White House on Monday.
