President Donald Trump is known for being a voracious consumer of Fox News and its sister channel Fox Business, keeping the right-wing cable news outlets on constantly whether he's inside the White House or at Mar-a-Lago. And according to according to Mediaite's David Gilmour, that habit may have inspired a major decision on a key economic policy.
As the stock market continued to plummet, Trump made a major announcement on Wednesday afternoon, April 9: He is pausing most non-China tariffs for 90 days. Stocks increased in value following the announcement, although a great deal of uncertainty and anxiety remains on Wall Street.
Earlier in the day, JPMorgan Chase CEO Jamie Dimon appeared on Fox Business and told host Maria Bartiromo that the United States would "probably" or "likely" go into a recession thanks to Trump's steep new tariffs. And according to Mediaite's David Gilmour, that interview "may have been the nudge" that Trump "needed to take the leap on his stunning tariffs pause."
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Gilmour explains, "One source noted to the Wall Street Journal that while Dimon's appearance on 'Mornings With Maria' had been scheduled some time ago, the banker 'knew that Trump and his inner circle often watched Fox' and that his message would likely get through to them…. The point certainly registered with one viewer, the president, who apparently took note and directly cited Dimon’s interview with Bartiromo during a press gaggle at the White House on Wednesday afternoon, after announcing the tariffs pause."
Gilmour adds, "When a reporter asked whether it was changes in the bond markets that had persuaded him to 'reverse course,' Trump replied that he had noted on Tuesday that 'people were getting a little queasy.'"
The Mediaite journalist notes that another reporter asked Trump, "Mr. President, did anyone influence your decision? Did you speak with anyone you know? Jamie Dimon? Did you speak with anyone?'"
Trump responded, "I watched Jamie Dimon and Maria Bartiromo’s show this morning, and he was very good." And the "Dimon message," according to Gilmour, "may have nudged Trump to take the leap on a pause he claims he'd been considering for some days."
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Read the full Mediaite article at this link.