Trump’s tariff reversal came after he watched an interview on Fox Business with JP Morgan Chase CEO Jamie Dimon, during which the bank boss said that a recession was a “likely outcome” of the new trade policies, according to the Washington Post.
Trump was asked by a reporter on Wednesday when he decided to put a pause on the tariffs.
“I would say this morning. Over the last few days, I’ve been thinking about it. Fairly early this morning,” he said.
He could be insane and doing it for graft. He obviously sees himself like a mobster and tries to operate like one. My theory is he wants to individually negotiate tariffs to solicit bribes from businesses and foreign countries. It’s not exactly 4d chess. He just knows he has the power to pressure the richest and most powerful people on the planet, so he’s going to use that power to enrich himself and family. I don’t think he actually understands much about tariffs or much of anything though.
Also, the evidence of insider trading and market manipulation is pretty convincing to me. I don’t think that was the original intention, but Trump, or those around him saw the opportunity and took it.