According to ChainCatcher and Wall Street News, Trump announced a suspension of tariff policies last night, triggering significant market volatility. By compiling media information, the behind-the-scenes timeline of this event is as follows:
At 9:33 AM local time, Trump posted on Truth Social, telling everyone to "stay calm" and subsequently added that "now is a good time to buy".
Meanwhile, U.S. Commerce Secretary Raimondo received a phone call from EU's top trade official Maros Sefcovic, with the EU approving countermeasures against U.S. steel and aluminum tariffs that day.
By noon on Wednesday, Raimondo was already sitting in the White House Oval Office with Treasury Secretary Yellen, discussing the latest tariff policy with Trump.
At 1:18 PM, Trump announced the decision to defer tariffs on Truth Social.
It is reported that this sudden turn even caught some high-level officials off guard. After Trump's post, his assistants immediately convened to discuss next steps, with Yellen and White House Press Secretary Karine Jean-Pierre quickly holding a press conference.
After announcing the tariff deferral, Trump told reporters that he had been considering changing course over the past few days, with the final decision "possibly made early this morning".
