Source: Cointelegraph Original: "{title}"
According to observers, recent fake news about U.S. President Trump considering a 90-day tariff suspension suggests that if such a suspension were to occur, the market could see a strong rebound.
On April 7, a verified "Walter Bloomberg" account posted fake news on the X platform, claiming that the White House was considering suspending tariffs on all countries (except China) for 90 days after an interview with Trump's economic advisor Kevin Hassett.
The deleted post from the user stated: "Hassett: Trump is considering a 90-day tariff suspension on all countries (except China)."
This account, which has a verification badge and 852,000 followers, sparked a frenzy after the rumor was reported as a headline by CNBC, which was then further amplified by Reuters.
The S&P 500 index rebounded more than 8% from its lowest point of the day, the Nasdaq index rose 9.5% in less than an hour, and the Dow Jones index increased by 7%, injecting trillions of dollars into the stock market.
Bitcoin (BTC) also experienced a similar surge, briefly breaking above $80,000 before rising 6.5% and then retreating.
The White House's official "rapid response" account quickly issued a statement on the X platform, declaring the news to be fake, and the market subsequently began to correct.
"The market is ready to follow suit"
Despite the rumor being debunked as fake news, Crypto YouTuber Lark Davis stated that the incident revealed some important characteristics of the market.
He said the market is ready to accept long-term negotiations with China as long as most agreements can be resolved. He added, "The market is ready to follow suit, and even a trivial 90-day delay can send the market soaring."
"Now imagine what would happen when dozens of agreements are reached with major players like India, Canada, and the UK. A lot of money is on the sidelines, ready to jump in."
"That fake news could actually give Trump, Navarro, and Luttig more confidence to push this process forward," commented X platform user Geiger Capital, adding, "They now know they can announce a suspension at any time, and the market will rise about 10% within a day."
The truth about Hassett's interview
Fox News asked Hassett whether Trump would consider a 90-day tariff suspension, to which Hassett gave an ambiguous answer: "I think the president is gonna decide what the president is gonna decide," and added, "Even if you think there will be some negative effect from the trade side, that's still a small share of GDP."
He also stated, "To think this would lead to a nuclear winter-type situation is completely irresponsible rhetoric."
KILMEADE: Would Trump consider a 90 days pause in tariffs? HASSETT: I think the president is gonna decide what the president is gonna decide … even if you think there will be some negative effect from the trade side, that's still a small share of GDP pic.twitter.com/3KymvgOwQG
After the post about the 90-day tariff suspension was deleted, Trump posted on his own social media platform Truth Social, threatening to impose more tariffs on China.
He said, "If China does not withdraw its 34% tariff on the U.S. by tomorrow, April 8 (in addition to its long-standing trade unfairness), the U.S. will impose an additional 50% tariff on China starting April 9."
Related: Bitcoin and stocks plummet after "90-day tariff suspension" is revealed as fake news—Bitcoin whales continue to accumulate.
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