Key Takeaways
- Trump approved a 90-day reciprocal tariff following the influx of countries calling for negotiations.
- U.S. President Donald Trump slammed China’s 125% tariff, claiming China has been ripping the U.S.
- The price of Bitcoin and altcoins rallied after news of the tariff pause, as investors and traders paid attention to the market.
In a dramatic turn of events, U.S. President Donald Trump announced a 90-day pause on most reciprocal tariffs. Many countries have a universal reduction of 10%, except China, which imposed over 125% tariffs as Trump suggested the Chinese have been ripping the U.S. It’s time to return the favour.
The news, which was confirmed by White House Officials, comes amid a tough market and microeconomic difficulties. The price of crypto assets and the stock market saw a huge price crash, leading to market uncertainties. Trump remained convinced it was for the betterment of the nation, as patience and endurance are needed for a better economy.
The 90-day tariff pause saw the price of Bitcoin and other altcoins rally by 10%, and the stock market saw a rally of over 3.5%, with over $5.5 trillion injected into the market in the last few hours.
This news was confirmed by U.S. Treasury Secretary Scott Bessent, who has been involved since the start of the tariff war. He has noted that over 75 countries have reached out for negotiations, leading to TRUMP’s decision on the tariff pause.
According to Scott Bessent, “It took great courage for him to stay the course until this moment,” reiterating what he mentioned a week ago: “Do not retaliate, and you will be rewarded.”
Scott Bessent further stated that President Donald Trump wants to be involved directly in talks and negotiations, and the recent turnout of decisions is not because of market turmoil but rather as a result of high inbound from different countries.
When asked if the market was a major factor, he stated, “It’s because of the large number of inbounds. We’ve had more than 75 countries contact us, and I imagine after today, there will be more.”
Crypto Market Response To 90-day Tariff Pause
Source – Crypto Market Responds To Tariff Pause From Quantifycrypto
The crypto market has responded strongly with a major bounce across the market. The price of altcoins hit an over 10% rally in a few hours, and the price of Bitcoin jumped from a region of $76,000 to a high of $83,000. The market could look to close up its decline in the past few weeks.
A break and close above $95,000 for BTC and Ethereum’s (ETH) price breaking above $2,000 could see altcoins and the market recover following a prolonged price crash. Traders and investors will look at the market price action in the coming days before making investment decisions.
