Trump Announces New Tariffs Impacting Global Trade

President Donald Trump announces new tariffs impacting global markets, with crypto and bonds potentially facing significant volatility.

The tariffs, affecting 10-12 countries, will range from 10%-70% and are set to be implemented on August 1. This initiative aims to readjust international trade dynamics, particularly influencing cryptocurrency sectors seeking stability.

Trump’s Tariffs Expected to Commence August 1

Key players in this initiative include President Donald Trump, who announced that letters detailing the tariffs will be sent to affected countries starting this Friday. The tariffs range from 10% to 70%, varying by country. The official collection of tariffs commences on August 1. This measure seeks to reconfigure trade relations and impact cross-border economics.

Immediate implications of this announcement include a potential surge in market volatility, especially in the financial markets. Trump’s statement highlighted that the financial flows will start impacting the US economy with effect from August. This move is part of a larger strategy to readjust trade terms.

Donald Trump, President of the United States, “I think by the ninth they’ll be fully covered. They’ll range in value from maybe 60 or 70% tariffs to 10 and 20% tariffs.”

Market reactions have begun to surface, with economic analysts and government officials weighing in on potential outcomes. Scott Bessent, now the lead economic advisor, has taken a frontline role. Officials foresee increased market heat as a result of these financial policies.

Bitcoin’s Potential as a Safe-Haven During Tariff Changes

Did you know? US-China trade tensions historically spurred Bitcoin volume rise during 2018-2020, highlighting as a safe-haven amid market turmoil.

Bitcoin (BTC), currently priced at $108,273.83, holds a market cap of $2.15 trillion with a dominance of 64.47% in the crypto market, per CoinMarketCap data. Over the past 90 days, BTC reported a 31.13% gain, though the 24-hour volume saw a 27.91% decrease.

The Coincu research team indicates these tariffs may lead to significant market volatility within crypto sectors, promoting shifts towards digital assets and stablecoins. The historical precedent suggests heightened interest in BTC as a value store during macroeconomic uncertainties.