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.
GASPARINO: Are people coming to the table? Yeah. But if you know, if you read between the lines and not even what Scott Bessent said, we have no deals.
Right. And there’s nobody that is really there saying this is what we’re going to do.
And they paused it anyway.
They got no deals. Of course. Americans do not fucking care about trade deficits.
Now back to the Treasuries.
GASPARINO:You cannot divorce this decision right here from what happened last night, which was, you know, I and people focus on the stock market all the time.
It’s the bond market and the sort of lending markets.
That’s the plumbing of the economy. And those markets were imploding last night.
And that’s why we have a 90 day freeze.
Let’s see if those markets improve. Someone told me we had a decent Treasury auction today.
But if you can’t sell your Treasuries, guys, and people are unloading your Treasuries like Japan, which is, I believe, the largest foreign holder after China.
Trump’s stupidity backed him into a corner.
Now his minions will try to put lipstick on pig Trump.
GASPARINO: But be real clear, there were problems in the plumbing of the market.
And from what I understand, and I’m talking to sophisticated, I’m not talking to some guy at, you know, I’m trading off his Robin Hood account.
I’m talking to major hedge fund players who deal with the White House, who deal with Bessent. And Bessent knows this.
He told the president this.
We have a real problem with plumbing.
And if we have a problem with plumbing, it’s game over.
Gasparino gave a detailed account of what transpired without the glorification of Trump thrown in.
That’s tough to do for a MAGA cult member.