White House Dismisses Tariff Suspension Reports as "Fake News"

In a swift turn of events, CNBC retracted its earlier report that suggested White House NEC Director Kevin Hassett indicated President Donald Trump was considering a 90-day suspension of tariffs, with exceptions for China. The White House was quick to label the report as "fake news," according to Press Secretary Karoline Leavitt.

Market Reactions to the News

The initial report had led to a temporary recovery in US stocks, which quickly reversed as the news was debunked. The Dow Jones Industrial Average, after briefly soaring over 850 points, fell back into negative territory, highlighting the market's sensitivity to trade policy news.