Contrary to some reports, the White House says supposed 90 day tariff pause is “Fake News”

The White House has corrected the record after some erroneous reports claimed that President Donald Trump was considering a 90 day pause on his global tariffs. “Fake News” was how one White House official described it.

This was in response to headlines about remarks made by Kevin Hassett, who is the Chairman of the Council of Economic Affairs. The social media action began when a user on X, Walter Bloomberg, posted that Kevin Hassett, director of the National Economic Council, said Trump is considering a 90-day pause on all countries except China.

The post caused major moves on the stock market, with a surge followed by a plunge within seconds. The report appeared to be an incorrect interpretation of a Hassett interviewon Fox News earlier that day. Before markets opened, Hassett was asked if Trump would consider doing a 90-day pause, and he punted on the question.

“I think the president is going to decide what the president is going to decide,” Hassett said. Hassett was asked about the idea after billionaire hedge fund investor Bill Ackman, who endorsed Trump last year, argued on Sunday that Trump should consider calling a “90-day time out” that would allow him to negotiate and solve “asymmetric tariff deals, and induce trillions of dollars of new investment in our country.”

Trump, meanwhile, has not indicted he is considering a pause. He pushed back on criticism over his tariffs earlier Monday, calling on Americans to be patient and not be a “panican.”

The Dow Jones Industrial Average opened sharply down on Monday morning, hitting negative 1,500 points by 9:40 a.m. EDT. Investors are bracing for a tough Monday after the Dow lost nearly 4,000 points over Thursday and Friday following Trump’s announcement on Wednesday.

The White House appears to be resolved in seeing their tariffs through. Trump’s mindset looks to be one of a man who accepts that there will be pain and wide opposition to his actions, but these actions will see good results in the long run.

The President is gambling at high stakes, but he seems supremely confident in his ability to see out a positive result.