The Sirius Report: After Tariff Pause announcement .. Trump caves over tariffs as Lehman 2.0 beckoned

Paul and Ken discuss the real reasons why the Trump administration caved in with respect to global tariff policies.

@realDonaldTrump

Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable. Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!

In the press conference following: Trump blames his ‘STUPID, incompetent’ predecessors for not taking trade war to China

‘I don’t blame China for what happened’ he adds.

A few random comments from reliable China commentators:

Clown show on steroids: So it comes to pass. Trump had no choice. China won’t care, it knew this was coming since Trump was elected.

Idiotically, everyone now knows that this is a personal US vendetta against China.

Deliberately tank the market, does insider trading – Art of the Deal.

He is warmongering and trying to destabilize East Asia.

Jesus—Trump just said that he will be looking at exempting certain US companies from tariffs. Reporter asks: “How will you determine that?” Trump: “Instinctively”. Sounds like whoever will bend the knee and kiss the ring.