Cryptocurrencies and related stocks soared on Wednesday after President Donald Trump announced a Bitcoin, Ethereum and XRP were all down 10%, 20% and 22% respectively.
But hours after Trump’s tariffs took effect on Wednesday, the president posted on his social media platform Truth Social that he had authorized a 90-day pause on some tariffs and “a substantially lowered reciprocal tariff during this period of 10%.” China, however, is the exception, and Trump announced new tariffs on the country that increased overall levies on products from that country to 125%.
