Trump "Will Immediately Start Negotiations with Countries Excluding China"
US Stock Market Rebound Follows Afternoon BTC and Altcoin Recovery
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President Trump announced through his Truth Social SNS that he would begin tariff negotiations with countries other than China. He stated, "If China does not withdraw the 34% tariff by the 8th, the United States will impose an additional 50% tariff on China. This will take effect from the 9th."
He further added, "Negotiations with other countries that have requested meetings with the United States will begin immediately."
Prior to this, the Asian stock market had plummeted on the 7th due to the full-scale tariff war by President Trump. Amid expectations that the US stock market would be severely impacted, Trump's announcement led to a rise in the US stock market and Bitcoin.
The Dow Jones Industrial Average and S&P 500 index, which had plummeted by over 5% immediately after opening, closed with a slight decline of approximately 0.91% and 0.23% respectively, while the Nasdaq index closed with a 0.10% increase.
With the rebound of the US stock market, the Bitcoin and cryptocurrency market also recovered. Bitcoin rose by approximately 4% in the late afternoon of the 7th, surpassing $80,000, and maintained the $79,000 level on the morning of the 8th. Altcoins, which had shown a sharp decline on the 7th, also successfully rebounded and largely recovered their earlier losses.
As of 8 AM on the 8th, Bitcoin was recorded at $79,496 according to CoinMarketCap.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
