00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Donald Trump rejected criticism of his shifting tariff strategy,
00:05denying claims he frequently retreats from tough trade measures, according to CNBC.
00:10The term, Trump always chickens out, was coined by a Financial Times columnist
00:13and refers to Trump's pattern of announcing steep tariffs that initially shake markets.
00:18He often later delays or softens the measures that lead to market recoveries.
00:22When asked by CNBC about the term at the White House,
00:24Trump denied ever backing down on tariffs
00:26and claimed his actions have strengthened U.S. trade negotiations.
00:28The president defended delaying a 50% E.U. tariff as strategic negotiation,
00:33saying it prompted the E.U. to engage and was not a sign of backing down.
00:37Trump credited the 50% tariff threat with jump-starting trade negotiations between the U.S. and the E.U.
00:42For all things money, visit Benzinga.com slash GSTV.
Comments