According to the source, President Donald Trump said on Nov 9, 2025 that opponents of tariffs are fools and claimed the U.S. has almost no inflation and a record stock market in a public post on X (source: President Trump's X post, Nov 9, 2025). Historically, tariff actions like the 2018–2019 measures raised U.S. import prices nearly one-for-one and increased consumer costs, implying inflationary pressure if similar policies advance (source: U.S. International Trade Commission 2023 report on Section 301 tariffs; source: Peterson Institute for International Economics 2019 analysis). Inflationary tariff risk can lift rate expectations and tighten financial conditions, a headwind for risk assets, while crypto has moved more in sync with equities since 2020 (source: Federal Reserve 2023 Monetary Policy Report; source: IMF 2022 analysis showing elevated BTC–S&P 500 correlations). Trade policy uncertainty has historically coincided with higher volatility and safe-haven demand that can support the U.S. dollar and pressure dollar-denominated crypto such as BTC and ETH (source: BIS Quarterly Review September 2019 on trade policy uncertainty; source: IMF 2019 World Economic Outlook on rising trade barriers). Traders should monitor U.S. inflation expectations, 10-year Treasury yields, DXY, and BTC-USD/ETH-USD for headline-driven moves tied to tariff rhetoric (source: Federal Reserve 2023 on policy transmission to financial conditions; source: IMF 2022 on crypto–equity co-movement).