Empty shelves and financial turmoil: Why Trump backed down
April 23, 2025
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29:36Now PlayingEmpty shelves and financial turmoil: Why Trump backed down
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as posted by the channelThe White House changed its tone on both China tariffs and Federal Reserve Chair Jerome Powell, and the shift pushed stocks higher. The CEOs of Walmart, Target, Lowe’s and Home Depot met with President Trump in the Oval Office to discuss the tariffs’ impact on retail, and warned the President of “empty shelves.” Trump’s advisers were alarmed by his attacks on Powell and his unprecedented tariffs, particularly on China. “Trump Chickened Out” is trending on social media in China, as Trump has said that China tariffs will drop “substantially” but “won’t be zero.”
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