Trump Delays Tariff for 90 Days, Increases China Tariff to 125%: Crypto Market Explodes

In his latest post on Truth Social on April 9, U.S. President Donald Trump announced his decision to delay the imposition of tariffs on several countries.

He wrote:

Based on the fact that more than 75 countries have proactively reached out to negotiate and have not taken retaliatory actions against the U.S., I have decided to temporarily suspend tariffs for 90 days and reduce the reciprocal tariff rate to 10% during this period.

President Trump emphasized that this decision takes immediate effect.

In the same post, President Trump also announced a 125% tariff increase on imports from China, following Beijing’s retaliatory move of imposing an 84% tariff on U.S. goods.

Related: EU Regulator Warns Crypto Could Threaten Financial Stability

Less than an hour later, Trump appeared in front of the White House to further explain the move to the press. When asked about calling for calm in the morning and then suspending tariffs just hours later, he responded that “people are overreacting.”

He added:

This isn’t over yet, but we’re seeing a very positive spirit of cooperation from many countries — including China. They want a deal; they just don’t know how to begin.

Following Trump’s statement, the financial and crypto markets reacted sharply. Bitcoin surged impressively from $75,300 to $83,000, while many altcoins also experienced a steep increase shortly after.