11 Apr 2025 8:49 am
In a stunning pivot, President Trump’s decision to pause reciprocal tariffs on most nations—while slamming China with a 125% levy—appears less a calculated masterstroke and more a frantic response to trembling financial markets. Clay Lowery, a former Treasury heavyweight now at the Institute of International Finance, revealed the move was sparked by a panicked exodus of investors from stocks and Treasuries.
The 10-year Treasury yield’s alarming spike, he noted, sent shockwaves through the White House, Treasury, and Commerce Department, signaling a potential financial cliff.
“They weren’t aiming for a crisis,” Lowery quipped, “but the writing was on the wall.”
Trump himself admitted the jitters played a role, casually likening rattled investors to golfers with the “yips".
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