- The White House extended the tariff truce with China by 90 days to November 10.
- Bitcoin climbed toward $122,000 before easing, trading near $119,000 in early Europe.
President Donald Trump signed an executive order late on August 11 to extend the pause on increased tariffs for Chinese goods by 90 days, moving the deadline to November 10 and averting an immediate escalation in duties.
White House Order Delays Tariff Hikes Until November 10
The decision keeps existing levies in place and prevents headline U.S. rates from jumping toward 145% on certain imports while avoiding Chinese duties that were set to rise toward 125%. For now, effective rates remain near 30% on Chinese goods and around 10% on U.S. exports as negotiators continue talks.
Officials have pursued parallel discussions covering semiconductors, market access and agriculture, with the extension intended to preserve space for those talks ahead of autumn milestones. The timing also eases pressure on manufacturers heading into the holiday shipping window, while Asian equities edged higher as traders marked down immediate tail risks from a tariff shock.
Bitcoin Recovers Toward $122,000 After Policy Announcement
Bitcoin rose toward $122,000 following the order before paring gains, with the token changing hands around $119,000 in early European trade. The move reflected a modest re-risking across crypto alongside softer dollar positioning, though intraday swings remained pronounced.
Derivatives desks reported brisk spot buying into the headline and lighter basis in near-dated futures, consistent with positioning that faded the worst-case tariff scenario while awaiting this week’s U.S. inflation data. Liquidity remained concentrated during Asia hours as macro funds adjusted exposures across gold, tech equities and digital assets in line with the lower near-term policy shock.
