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Coin Telegraph

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Trump pauses some tariffs, boosts China's

  • United States President Donald Trump pauses reciprocal tariffs for 90 days and lowers the tariff rate to 10% on countries that do not retaliate.
  • Trump increases reciprocal tariff rate on China to 125% due to China's counter-tariffs against the US.
  • Following the announcement, the S&P 500 index rallied close to 7%, reflecting high capital market volatility amid macroeconomic uncertainty.
  • BitMEX founder predicts a possible devaluation of the Chinese yuan could lead to capital flight into cryptocurrencies.

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