Trump Declares Market Volatility Didn't Factor into Tariff Delay: 'I Wasn't Concerned'

In recent remarks, the President dismissed claims that a sharp fluctuation in the bond market had any bearing on his decision to temporarily postpone new "reciprocal" tariffs on America’s trading partners earlier this month.

"I wasn't concerned," Trump stated when questioned about financial market disturbances that followed his announcement on April 2nd, which he dubbed "liberation day."

Trump had announced an imposition of a flat 10% tariff on all U.S. imports and released a catalog of additional duties targeting several other countries. These measures, based on U.S. trade deficits with those nations, sparked fears of inflation and destabilization of established trade deals.

The markets reacted strongly to this news. Initially, Treasury yields dropped, only to surge dramatically soon after. In a matter of days, the yield on the 10-year Treasury note jumped by half a percentage point—a rapid change that saw investors also pull back from stocks and the US dollar.

Trump eventually decided to pause on implementing the reciprocal tariffs to provide more time for negotiations. However, he made it clear that this decision wasn't driven by the turbulence in the financial markets.

"That wasn't the reason," Trump clarified in a Time magazine interview released Friday from a conversation on Tuesday. "I’m holding off until we reach the figures I’m aiming for. I’ve had countless meetings and calls with numerous countries. I don’t even need them to come here."

Following these developments, bond yields have declined, with the 10-year yield recently around 4.28%, slightly above its recent low. Trump remarked during his decision-making process that there was some unease shown by the bond market.

"The bond market was experiencing jitters, but I wasn’t," he commented. "I know the potential we hold, but I also realize that potential could be lost if we have another four years of massive incompetence. The system was out of control — this was the most inept administration ever."

Trump mentioned that while negotiations are ongoing, he would view it as a "complete triumph" if the U.S. maintained tariffs as high as 50% into the following year.