Trump announces a 90-day pause on tariffs, Bitcoin price rebounds to $83,000

In a message posted on Truth Social, Trump announced some changes to his tariff policy. At the beginning of the message, he stated that he would raise tariffs on China to 125%, which is 'based on' China's lack of respect for the global market.

He continued to express hope that China would soon realize that the days of exploiting the U.S. and other countries are unsustainable and unacceptable.

Trump also stated that representatives from over 75 countries have called the U.S., including the Department of Commerce, the Department of Treasury, and the Office of the U.S. Trade Representative, to negotiate issues related to trade, tariffs, currency manipulation, and non-monetary tariffs, seeking solutions.

He said that based on these countries not retaliating against the U.S. in any way, he approved a 90-day suspension of tariffs, during which reciprocal tariffs will be reduced to 10%, effective immediately.

After Trump announced this news yesterday, both traditional and cryptocurrency markets reacted. Today, the cryptocurrency market rose nearly 7%.

Additionally, the market is eager to see whether the Federal Reserve will decide to lower interest rates, as the U.S. President recently hinted again that he suggests Federal Reserve Chairman Jerome Powell lower rates.