this post was submitted on 14 Apr 2025
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Trump’s tariff reversal came after he watched an interview on Fox Business with JP Morgan Chase CEO Jamie Dimon, during which the bank boss said that a recession was a “likely outcome” of the new trade policies, according to the Washington Post.

Trump was asked by a reporter on Wednesday when he decided to put a pause on the tariffs.

“I would say this morning. Over the last few days, I’ve been thinking about it. Fairly early this morning,” he said.

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[–] hopesdead@startrek.website 16 points 1 day ago (2 children)

Does he know what a recession is? Genuinely asking. That would help understand this response.

[–] Aceticon@lemmy.dbzer0.com 5 points 1 day ago* (last edited 1 day ago)

His experience of the last couple of recessions has probably been:

  • "The Markets, Politicians and Press do a lot of noise whilst poor and working people have to be squeezed even more whilst the Government makes sure rich people don't lose any wealth and at the end of it we the rich are making even more money than before"

I mean, all that it takes is to look at the changes in wealth of the top 1% of the population compared to the rest in the aftermath of the 2008 Crash.

From his point of view a recession is a good thing because it and subsequent measures by the Government and Central Bank makes him even more money than "normal" times. Sure, it's on the backs of the riff-raff, but who cares about the riff-raff when they're so easy to lead by the nose?!

[–] whotookkarl@lemmy.world 7 points 1 day ago

If he does it was explained to him repeatedly through a TV with lots of pictures