Key Points
- Yesterday, Trump authorized a 90-day pause on tariffs, lowering the reciprocal tariffs to 10%.
- Bitcoin’s price reacted to the announcement, surging above $83,000.
Earlier today, Bitcoin’s price surpassed $83,000, following yesterday’s Trump tariff-related announcement. The general crypto market is up by almost 7% in the past 24 hours.
Bitcoin Price Surged Above $83,000
Bitcoin recorded a significant price surge from $75,000 levels. The digital asset’s price debuted an ascendant trajectory on April 9, topping $83,000 earlier today.
At the moment of writing this article, BTC is trading above $82,000, up by 7% in the past 24 hours.
On April 9, BTC recorded a surge of over 5% in a short amount of time, following the US President’s tariff-related announcement.
Trump Delayed Tariffs by 90 Days
In a message on Truth Social, Trump announced some changes in his tariff policies. He began his message by saying that he is raising the tariff charged to China by the US to 125%, “based on the lack of respect” that China has been showing the world markets.
He continued by saying that hopefully, sometime in the near future, China will realize that the days of ripping off the US and other countries are no longer sustainable or acceptable.
Trump also stated that more than 75 countries have called Representatives in the US, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution regarding trade, tariffs, currency manipulation,n and non-monetary tariffs.
He said that based on the fact that these countries have not retaliated in any way or form against the US, he authorized a 90-day delay on tariffs, lowering reciprocal tariffs during this period to 10%, effective immediately.
Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) April 9, 2025
Yesterday, following Trump’s announcement, both traditional and crypto markets reacted. Today, the crypto market is up by almost 7%.
Also, the markets expect to see whether the US Fed will decide to cut interest rates, following another recent message from the US President who advised the Fed’s Chair, Jerome Powell, to lower rates.
