Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the news of United States President Donald Trump delaying his trade tariffs for 90 days, meaning all nations who did not retaliate will remain at 10% as negotiations take place.
Trump Gives Grants 90-Day Tariffs at 10%
United States President Donald Trump has announced a delay to higher level tariffs which were due to come into effect as he looks to pursue his trade war. All nations who did not retaliate with tariffs on the United States will be set at a 10% tariff level for 90 days as countries look to negotiate with the U.S. President and his team to find a solution. The only nation to see further tariff attack from the United States was China, where Trump has now imposed a 125% tariff on Chinese imports.
Global markets responded to the news with Bitcoin up 6.9% in 24 hours and now trading around the $82,500 mark.
Trump took to his social media platform Truth Social to declare that the tariffs on Chinese imports would increase to 125% after what he described was a lack of respect from China towards global markets. Trump wrote:
“China has been taking advantage of the United States and other nations for too long. The days of ripping off the U.S.A. are over.”
Trump also announced that 75 nations have engaged with U.S. trade officials to negotiate on issues such as trade barriers, currency manipulation, and non-monetary tariffs. Due to this Trump authorised the reduced reciprocal tariff of 10% for those countries during the pause period. It still means the likes of the European Union will be facing a 10% tariff, but it is much better than the initial 20% imposed.
The markets reacted by rallying as the S&P 500 gained over 5.5% and the tech-heavy Nasdaq rose over 8%. The sight was welcomed by investors as the temporary easing of global trade tensions has eased fears in the market. It remains unclear whether any countries beyond China will face higher-than-10% tariffs once the 90-day pause expires.
No clarity was given on this by Trump as part of his posting and he also did not specify further details or potential next steps. He did indicate that trade partners who avoid retaliation and continue negotiations may avoid harsher measures. Many consider this a high-stakes gamble by Trump to pressure Beijing while maintaining stability with other key trading partners and for now the markets have responded in a positive manner. How long this will last remains to be seen, but for now things are looking better and crypto is responding in kind.
Have a great day.
Peace. CryptoGod-1.
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