CNBC was forced to issue an on-air correction after it amplified a viral falsehood about President Donald Trump considering a 90-day pause on his tariffs. The false claim, which originated from a misinterpreted quote by Trump economic adviser Kevin Hassett, sparked a $2.4 trillion swing in the stock market.
According to reports, Hassett had said “I think the president is gonna decide what the president is gonna decide” during an appearance on Fox & Friends. Reuters and other media outlets picked up on this quote, running headlines that suggested Trump was considering a 90-day pause on tariffs for all countries except China.
However, White House press secretary Karoline Leavitt quickly denied the claim, stating it was “fake news.” CNBC eventually issued its own correction, citing Leavitt’s denial and retracting its earlier report.
The incident highlights the importance of verifying information before reporting it, especially in high-stakes situations like financial markets. The stock market surged on Wall Street after Trump announced his tariff plans last week, making this false narrative all the more damaging.
CNBC has since apologized for the mistake, stating that it “aired unconfirmed information” and would do better in the future to verify its sources. Reuters also retracted its report, taking responsibility for spreading the incorrect information.
Source: https://www.foxbusiness.com/media/cnbc-issues-on-air-correction-after-pushing-viral-falsehood-about-trump-tariff-pause