It was Wall St that got Trump to back down.
Dimon made the call and got it sorted.
Trump flipped the moment he was put under pressure and believes he saved face because he kept the Tariffs on China.
I don’t care how Trump wants to dress it up, he had to postpone because he… https://t.co/Iu7VDbeemt
— The Long Investor (@TheLongInvest) April 9, 2025
“People were getting a little queasy.” Trump says he was watching bond market reaction to tariff measures
President Donald Trump said he was watching volatility in the bond market in recent days and appeared to indicate that it was among the factors that led to his decision to institute a 90-day pause on some tariffs.
“I was watching the bond market. The bond market is very tricky. I was watching it. But if you look at it now, it’s beautiful. The bond market right now is beautiful. But yeah, I saw last night where people were getting a little queasy,” he said.
CNN reported prior to the president’s decision that US Treasury yields had risen in recent days as investors sold off bonds. The benchmark 10-year yield Wednesday morning was 4.4% – up from 3.9% before Trump unveiled his tariffs.
Trump also said he watched JP Morgan Chase CEO Jamie Dimon on Fox Business Network this morning.
The CEO “made the statement to the effect that something had to be done with the tariffs and trade. … He understood it,” Trump said. “It wasn’t sustainable what was happening. Somebody had to pull the trigger. I was willing to pull the trigger.”
During that appearance, Dimon warned that a recession was a “likely outcome” of the escalating trade war resulting from Trump’s tariff policies.
“No one’s wishing for (a recession) but hopefully if there is one it’ll be short,” he said. “I do think fixing these tariff issues and trade issues would be a good thing to do.”
https://www.cnn.com/politics/live-news/trump-tariffs-cnn-town-hall-04-09-25/index.html