Crypto and stock entered the week with an eerie feeling that the recent momentum may go sideways as we approached the “Liberation Day” deadline. Heading into July 9, the notion that several nations trading goods with the U.S. had yet to announce a new deal regarding tariffs led investors to be cautious that the market could react abruptly once again.
However, President Trump announced that he’ll be extending the deadline for one more month until new tariff hikes come in August. However, the President also announced that certain nations like Japan, Kazakhstan, and Thailand will face new tariffs of up to40% by August 1st, potentially as a show of strength amidst negotiations.
This development comes just one day after U.S. Treasury Secretary Scott Bessent reportedly sent letters to over 100 countries warning them that, unless a deal is made, tariffs are expected to return next month.
On his Truth.Social account today, Trump also threatened to raise tariffs by 10% to “any country aligning themselves with the anti-American policies of BRICS”. The Block, composed of nations like China, Russia, and India, has been slowly expanding its influence and challenging U.S.-led global systems.
At the recent BRICS Summit in Rio de Janeiro (July 6–7, 2025), the group emphasized several positions that likely triggered Trump’s warning, including a move away from the Dollar as the reserve currency of the world and a push for global governance reform.
All things considered, today’s announcement of a 1-month truce in tariffs could allow risky markets like crypto and stocks to get a breather amidst growing economic uncertainty. Heading into the week, we can expect a few key economic reports that will help us assess what to expect from markets moving forward.
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