'People were getting a little queasy': Inside Trump's decision to reverse course

Ailia Zehra
10 April
U.S. President Donald Trump holds "The Trump Card" as he speaks with journalists onboard Air Force One en route to Miami, Florida, U.S., April 3, 2025.

A week after “Liberation Day” and just hours after his latest wave of global tariffs took effect, President Donald Trump announced a “pause” on some of his sweeping global tariffs — prompting a dramatic surge in the stock market.

A Politico article by columnist Rachel Bade published Thursday revealed that "internal worry about panic spreading to government bonds, usually a safe haven during economic volatility," was what made Trump reverse the decision.

On Wednesday, Trump said to reporters that the bond market is "tricky."

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“I saw last night where people were getting a little queasy … jumping a little bit," he added.

But Bade quoted a person she spoke to close to the White House as confirming that it was not just other people who were "queasy" over the new policy.

The article further notes that it wasn't solely Wednesday's reversal that revealed the vulnerabilities in Trump's political stance; rather, it was the series of headlines throughout the week that led up to it. The strong and formidable coalition that had propelled Trump back to the White House began to weaken as his supporters assessed the surprising tariffs.

"Start with the sniping on display from Trump’s allies in Silicon Valley and on Wall Street, including many who were openly balking at his full-bore embrace of protectionism," the article said.

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"Even Elon Musk, Trump’s most prominent adviser, reportedly tried to get Trump to back off his tariff obsession, then took to openly attacking top trade adviser Peter Navarro as “'dumber than a sack of bricks.'," it adds.

The author said the post-”Liberation Day” market chaos might have played a key role in spreading unease, but public approval, which is important to politicians, was also a key factor.

A survey conducted by Quinnipiac University released on Wednesday revealed that many Americans are doubtful about Trump's tariff initiatives. Additionally, a recent Economist/YouGov poll indicated a five-point increase in disapproval of Trump's job performance, bringing it to 51 percent, following last week's announcement.

The article went on to say that the events of this week indicate that most Republicans know very well that Trump is not facing voters again, despite his suggestions to run for a third term. "But they are," the author said of Republican office holders.

"So when they see signs of weakness, as they saw this past week, don’t be surprised if even MAGA faithful start to feel more inclined to freelance," she added.

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