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Markets Rally Briefly on Trump Tariff Pause Rumor—Plunge After WH Cries ‘Fake News’

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As President Donald Trump’s top billionaire allies and influencers are turning tail and revolting against his “big, beautiful tariffs” that have caused three days of stock market collapses across the globe, top White House economic advisor Kevin Hassett says that when he’s ready, the President will “sign with that big long beautiful signature and he will have made a great deal for America.”

Jamie Dimon, Bill Ackman, and Elon Musk all expressed concerns over the weekend, after U.S. markets crashed.

Call For ’90-Day Time Out’

Billionaire hedge fund manager Bill Ackman, a longtime Democratic donor who endorsed Trump in 2024 and went on to become a top cheerleader for Trump’s policies, blasted the President over his tariffs that in just two days caused $6.6 trillion in lost wealth in the U.S. alone (and $11 trillion since Inauguration Day.)

In a lengthy social media post, Ackman warned of a pending “self-induced economic nuclear winter” should Trump not reverse course on his oppressive tariffs.

Calling for a “90-day time out,” Ackman accused Trump of  “placing massive and disproportionate tariffs on our friends and our enemies alike,” and “launching a global economic war against the whole world at once,” which he says puts the U.S. “in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital.”

“If, on the other hand, on April 9th we launch economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate,” he warned.

And he chastised Trump, warning that the President “is losing the confidence of business leaders around the globe. The consequences for our country and the millions of our citizens who have supported the president — in particular low-income consumers who are already under a huge amount of economic stress — are going to be severely negative. This is not what we voted for.”

Markets Turn Positive Until White House Cries ‘Fake News’

On Monday morning, Trump’s Director of the National Economic Council reportedly said, according to Reuters, that the President is considering a 90-day pause on tariffs.

That caused an immediate spike, with U.S. markets turning positive on the third day of devastating, massive drops.

But the turnaround lasted only minutes, and the markets plunged again into the negative, as the White House called the possibility of a 90-day pause “fake news,” as CNBC reported.

More Billionaires

Other notable billionaires have also urged Trump to rethink the tariffs.

JPMorgan Chase Chairman and CEO Jamie Dimon, who was not a Trump supporter but in January announced he supported Trump’s tariffs—saying if there’s some economic hardship people should just “get over it”—now warns that Trump’s tariffs “will likely increase inflation and are causing many to consider a greater probability of a recession.”

“The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘trade wars,'” he writes. “The quicker this issue is resolved, the better.”

CNN calls Dimon’s warning “blunt,” and reports that “rarely has Dimon been so blunt about a single US economic policy.”

“We face the most perilous and complicated geopolitical and economic environment since World War II,” he said.

Even top Trump cheerleader, ally, and administration special employee Elon Musk came out in favor of free trade — the opposite of tariffs — and against at least some of Trump’s tariffs.

Calling it “one of the strongest examples yet of the billionaire SpaceX founder’s break with Trump on tariffs, CNBC reported that early on Monday morning, Musk reposted video of the late Nobel-awarded economist Milton Friedman explaining the importance and benefits of free trade.

Musk “also said [that] he hopes Europe and the U.S. can move ‘to a zero-tariff situation, effectively creating a free-trade zone,’ during a virtual appearance at a meeting of Italy’s far-right League party.”

Also on Monday morning, top Trump economic advisor Kevin Hassett, opened the door to Trump negotiating “deals” on his highly-controversial and, at least so far, highly-destructive tariffs.

‘BIG, LONG, BEAUTIFUL SIGNATURE’

Claiming that 50 countries have approached the White House to negotiate on tariffs, Hassett on Monday morning had told Fox News, “I’ve seen some deals that are great, and President Trump is going to decide if they’re great enough.”

“But again, after after decades and decades of mistreating American workers, it’s going to be tough to get him to decide to really come to the table and sign on the dotted line. But when he does, he’s going to sign with that big, long, beautiful signature, and he’ll have made a great deal for America.”

Watch the videos above or at this link.

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Trump Doubles Down Calling Egg Prices ‘Too Low’ as Costs Soar to Record Highs

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In the days leading up to Easter, President Donald Trump has repeatedly—and falsely—claimed that egg prices have plummeted to the point of being “too low,” baselessly citing steep double-digit declines—even as Americans face record-high prices at the grocery store.

“The egg prices are down 87 percent, but nobody talks about that,” the President said on Friday. “You can have all the eggs you want, we have too many eggs, in fact, if anything the prices are getting too low.”

Trump campaigned on the promise he would lower the price of groceries “on day one,” a promise that three months later is not only unfulfilled, but in some cases reversed: overall grocery prices have risen.

READ MORE: ‘Taunting SCOTUS’: Concerns Mount Over ‘Openly Contemptuous’ White House

On Thursday, Trump claimed the price of eggs had dropped 92%, while berating a reporter and his Federal Reserve Chairman.

“The price of groceries are substantially down,” the president falsely claimed.

The price of eggs, you know, when I came in, they hit me with eggs. I just got there, I was here for one week, and they started screaming, ‘Eggs have gone through the roof.’ I said, ‘I just got here.’

“They went up 87%, and you couldn’t get them,” Trump told reporters. “They said, ‘You won’t have eggs for Easter,’ which is coming up. Happy Easter, everybody.You won’t have eggs for Easter.”

“And we did an unbelievable job, and now eggs are all over the place and the price went down 92 percent,” he claimed.

READ MORE: Trump’s Latest Target: The Watchdog That Keeps Suing Him

Last week on Monday, Trump had claimed, falsely, that egg prices had dropped 79%.

Egg prices, Newsweek reported on Wednesday, “continued to climb despite recent efforts by the Trump administration to combat the shortage brought about by the ongoing bird flu with imports of Turkish eggs. The CPI egg index jumped by 5.9 percent from February and was up 60.4 percent compared to March 2024, and the average price for a dozen grade A large eggs climbed 5.6 percent to a record $6.23.”

Moe Davis, the well-known retired U.S. Air Force colonel, attorney, and former administrative law judge, posted to social media a federal government chart of egg prices.

“According to the Bureau of Labor Statistics,” Davis wrote, “the price of a dozen eggs in March was $6.23, the highest price ever recorded and 26% higher than in January when Trump took office. Of course if Trump says egg prices are down then the MAGA cult is obliged to say egg prices are down.”

Watch the video above or at this link.

READ MORE: ‘Things Like This Take Place’: Trump Shrugs Off Mass Shooting Despite Once Being a Target

 

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‘Taunting SCOTUS’: Concerns Mount Over ‘Openly Contemptuous’ White House

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The Trump White House is coming under fire for what appears to be an attempt to mock the U.S. Supreme Court, the facts in the case of a Maryland man wrongly deported to a maximum-security prison in El Salvador, and The New York Times.

The White House’s official account on the social media platform X posted a “corrected” version of a New York Times story—corrections that have drawn concern and scorn from the legal community and political commentators.

“Senator Meets With Wrongly Deported Maryland Man in El Salvador,” read a screenshot of the Times’ headline.

But the White House’s version (below), complete with red ink and cross outs, reads: “Senator Meets With MS-13 Illegal Alien in El Salvador Who Is Never Coming Back.”

The White House added remarks saying, “Fixed it for you, @NYTimes. Oh, and by the way, @ChrisVanHollen — he’s NOT coming back.”

Senator Chris Van Hollen (D-MD) traveled to El Salvador this week and, after several days, was finally permitted to meet with Kilmar Abrego Garcia—the legal U.S. resident whom the Trump administration has admitted in court it wrongly deported. Multiple courts, including the Supreme Court, have ordered the administration to “facilitate” his return. Yet the Trump administration appears to be refusing.

Friday’s claim that Abrego Garcia is “never coming back” was taken as a serious statement of intent by some.

Attorney Aaron Regunberg wrote: “The White House is saying he’s ‘never coming back’ — they are explicitly declaring they will violate a unanimous Supreme Court order.” Calling out Senate Democratic Minority Leader Chuck Schumer, Regunberg wrote: “you said this was your red line that would trigger ‘extraordinary action.’ So…where the f— are you?”

“2 telling things here,” offered The Washington Post’s senior political reporter Aaron Blake. “1) White House crosses out ‘wrongly,’ despite repeatedly acknowledging its error in court. 2) ‘who’s never coming back’ is basically taunting SCOTUS. Signals the opposite of any intent to ‘facilitate’ his return.”

“The White House press shop lies and claims Mr. Abrego was not wrongfully deported, despite having acknowledged that fact at every single stage of the court process; at the district court, the circuit court, and the Supreme Court,” noted attorney Aaron Reichlin-Melnick. “They are openly contemptuous of the truth.”

Civil rights attorney Patrick Jaicomo, replying to the White House, wrote: “There is a mistake in the headline. You didn’t wrongly deport Garcia. You wrongly imprisoned him without due process. So, fix your mistake, as the courts have ordered. You don’t have to keep doubling down on bad decisions.”

Attorney Dilan Esper added, “I’ll remind you that the federal judges issuing orders see this.”

Veteran journalist John Harwoood called it, “disgusting fascism,” and wrote that “the Trump WH is garbage from top to bottom.”

Opinion writer Magdi Jacobs noted, “They’re moving from evading the judiciary to openly mocking it. This is very dangerous territory.”

Some others addressed what they appeared to suggest was the juvenile nature of the White House’s post.

“When you graduate from 4chan and land your first job at the White House,” wrote Talking Points Memo publisher Josh Marshall.

“The Trump admin really wants to distract people from the fact that it illegally sent someone to El Salvador in violation of a court order & binding law, either out of malice or sheer incompetence. No amount of s—posting will change that,” said Reason magazine’s Billy Binion.

“This is the evil of the Trump White House,” remarked Fred Wellman, an Army veteran, political consultant, and the host of the podcast “On Democracy.”

Journalist and author Robert Lusetich observed: “The White House, an ever-lasting symbol of the power, dignity and greatness of the United States. Now, a trolling meme account.”

Anti-gun-violence activist Fred Guttenberg declared the White House is “staffed by pathetic punk 2nd grade pre pubescent children.”

Journalist James Surowiecki commented, “Your tax dollars are paying for this childish cr–.”

See the White House’s social media post above or at this link.

 

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Trump’s Latest Target: The Watchdog That Keeps Suing Him

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From the outset of his 2024 presidential campaign, Donald Trump signaled that a central focus of his presidency would be targeting and exacting retribution against his critics.

“In 2016, I declared, ‘I am your voice,’” Trump told attendees at CPAC, the Conservative Political Action Conference in March 2023. “Today, I add: I am your warrior. I am your justice. And for those who have been wronged and betrayed, I am your retribution.”

In keeping his retribution vow, Trump in just three months—often with the use of the power of his executive orders—has targeted for retribution numerous top law firms, revoked the security clearances of dozens of top national security experts, former government officials, and former political opponents. He has targeted top universities, threaten to defund millions of dollars or more in critical research grants, and declared top news outlets CNN and MSNBC “corrupt” and “illegal.”

Just days after the 2024 election, NPR reported that during the campaign, “Trump made more than 100 threats to investigate, prosecute, imprison or otherwise punish his perceived enemies, including political opponents and private citizens.”

READ MORE: ‘Things Like This Take Place’: Trump Shrugs Off Mass Shooting Despite Once Being a Target

On Thursday, Trump threatened to go after one of his top legal critics: CREW, Citizens for Responsibility and Ethics in Washington, a nonprofit legal and ethics watchdog that has been working for years to hold him (and others) to account, often by suing.

Asked by a reporter what group he would like to see have their tax exempt status removed, Trump replied, “Well, we’ll be making some statements, but it’s a big deal.”

“They’re so rich and so strong, and then they go so bad, they’ve earned so much by being a member of this country, you know, a member of this group, this beautiful group of people in this country, and then they go and they abuse their power like that,” Trump told reporters in the Oval Office Thursday afternoon. “I think it’s, you know, I think it’s very sad.”

“I have a group named CREW,” he continued. “CREW. You ever hear of it? I think it’s CREW, and they have a guy that heads CREW. It’s supposed to be a charitable organization. The only charity they had is going after Donald Trump. So we’re looking at that.”

“We’re looking at a lot of things, but if you take a look at CREW, what they’ve done, and I think it was a very big abuse, but we’re going to be finding out pretty soon.”

During Trump’s first and second terms, CREW sued Trump or his administration for alleged emoluments clause violations, alleged Presidential Records Act noncompliance, and challenged some of his executive orders. It also represented voters in a lawsuit attempting to use the 14th Amendment to remove him from the ballot, claiming his role in the January 6, 2021 insurrection was constitutionally disqualifying.

READ MORE: ‘Full Time Babysitter’: Treasury Secretary Urges Caution After Trump Fed Chair Threat

In January, CREW was part of a lawsuit suing to “block Trump’s illegal plan to fire government workers,” and in February, CREW sued the Department of Government Efficiency (DOGE) “to compel transparency.”

CREW, in a statement to NCRM, vowed to continue its work.

“For more than 20 years, CREW has exposed government corruption from politicians of both parties who violate the public trust and has worked to promote an ethical, transparent government,” CREW Vice President of Communications Jordan Libowitz said. “Good governance groups are the heart of a healthy democracy. We will continue to do our work to ensure Americans have an ethical and accountable government.”

Legal experts are blasting Trump’s threat.

“It is literally a federal crime punishable by up to five years in prison for the President, VP, or any senior White House employee, to ‘request, directly or indirectly, any officer or employee of the IRS to conduct … an audit or other investigation of any particular taxpayer,'” wrote attorney Aaron Reichlin-Melnick, a senior fellow at the American Immigration Council.

“The Trump administration has gone after law firms, they’ve gone after universities, and they’re now going after civil society, including groups like @CREWcrew. They want to silence any opposition to their extreme agenda,” added the National Women’s Law Center.

“President Trump is now threatening to weaponize the IRS against nonprofit organizations like @CREWcrew,” wrote Public Citizen. “He is attacking our most basic right: to say what we believe without fear of government prosecution. We proudly stand in solidarity with our friends at CREW.”

Watch the video below or at this link.

Watch the video above or at this link.

READ MORE: ‘Stunning Admission’: GOP Senator Says Colleagues ‘Are All Afraid’ of ‘Retaliation’

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