Despite recent announcements about potential trade agreements, Bitcoin prices remain stagnant.
U.S. Tariff Updates
There has been a lack of clear announcements regarding tariffs recently. The Federal Reserve Chairman and other officials regularly express concerns about the uncertainties that tariffs bring and their potential inflationary effects. Fortunately, anticipated updates have finally been released, clarifying the situation.
Comments from President Trump
U.S. President Donald Trump made several statements indicating that the country is actively pursuing deals with multiple nations. "Yesterday, a deal was signed with China, indicating we are beginning to open up China. We also plan to make deals with India," Trump said. He noted that reducing interest rates could be beneficial, stating, "Ford and other companies with factories in the U.S. are poised for increased profits. We are imposing taxes on China, Mexico, and other nations bringing Fentanyl into the country."
Insights from Secretary of Commerce Lutnick
U.S. Secretary of Commerce Lutnick provided additional insights, confirming that active negotiations are underway with other countries. A finalized agreement with Europe is anticipated, expected to conclude by July 9. Lutnick expressed optimism regarding these deals, stating, "Final-stage negotiations with India are underway. As for China, they will supply the U.S. with rare earth elements." He also mentioned that the recently signed deal with China included rare earth elements.
Despite optimistic statements, Bitcoin prices remain low and unresponsive to potential trade deal shifts.
