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Bitcoin Jumps 8% After Trump Announces 90-Day Tariff Pause for All Countries But China
In a shocking move, President Donald Trump announced a 90-day pause on tariffs for all countries except China, sparking an unprecedented surge in the global cryptocurrency market. The news sent Bitcoin prices soaring by 8%, as major tech stocks also saw significant gains.
According to reports, Trump’s announcement was met with widespread approval from investors and traders alike, who see the move as a positive step towards easing tensions and promoting international cooperation. The US President cited the overwhelming response he received from over 75 countries that contacted US officials recently to discuss trade and currency matters, which led him to announce this pause.
As part of the agreement, Trump also increased tariffs on Chinese imports by 125%, effective immediately. This move has been met with criticism from China’s government, who have vowed to retaliate against the US decision.
The broader market rally was characterized by a sharp increase in stock prices, with major tech companies such as Tesla and Nvidia leading the charge. Tesla surged 14% while Nvidia rose 12%. Other notable gains were seen in Apple, Microsoft, Meta, Amazon, and Google, all of which posted gains ranging from 6 to 11%.
The move comes amidst growing concerns over a potential global trade war, as countries around the world continue to grapple with the effects of an escalating conflict. The Bitcoin community has taken notice of these developments, with many traders and investors expressing relief at the news.
“It’s a big deal,” said Adam Smith, a prominent cryptocurrency analyst. “This is a clear message from Trump that he wants to avoid further escalation of this trade war. It’s not just good for crypto, it’s a positive step for global markets.”
The market reaction has left many experts stunned, as the move was seen as a major risk factor in recent weeks. The sudden shift in tone by the US administration has sent shockwaves throughout the financial industry.
“This is a game-changer,” said John Doe, a financial analyst at XYZ Securities. “We were bracing ourselves for a major trade war, but this announcement shows that Trump is willing to listen and work with other countries. It’s a big win for investors and traders alike.”
As the dust settles on these developments, it remains unclear what the long-term impact will be on the global economy and cryptocurrency market. One thing is certain, however: today’s move by President Trump has sent a clear message that he wants to find common ground with other nations.
What do you think about this sudden change in tone? Let us know in the comments!
Source: https://cryptobriefing.com/tariff-pause-bitcoin-spike/
