Fox Biz Gasparino: Trump Did Not Outsmart The World, Bond Markets Crashed
Fox Business contributor Charles Gasparino laid it out in plain English and explained why Trump was forced to pause his insane tariffs for 90 days.
Here's a hint.
It was not because of The Art of The Deal.
GASPARINO: I mean, I want to tell you right now that Donald Trump outsmarted the world.
Trust me. I'm an American. I support my president. But that's not really what happened here, from what I understand.
And I know I'll get pushback, but here's what it is.
If any Republican disagrees with Trump they'll get attacked.
Reality is not allowed.
GASPARINO: I'm getting this from people that are talking to the White House, What happened in the bond market overnight, the spike in yields on the 30 year and the 10 year bond, which showed that people were dumping our bonds.
And who are those people dumping our bonds? Japan, the biggest holder of bonds, was selling bonds. That's what I'm getting from some very big money managers. China, maybe to some extent, but it was largely Japan and others.
If you have a mass sale of bonds, that means people are losing confidence in the U.S. economy, on the ability to do deals with us.
And from what I understand, this is what forced the hand of this 90-day reprieve.
Trump was destroying the entire infrastructure and backbone of the US economy on whim instigated by scumbag Peter Navarro.
Now about those countries negotiating.