The recent increase of tariffs to 20% in the U.S. is influenced by changes in trade negotiations, which may alter the market situation on global financial platforms.
Reasons Behind Tariff Increase
U.S. Treasury Secretary Scott Benson announced a tariff increase to 20% amidst ongoing trade negotiations. Many international partners reportedly adjusted their stances during talks with the U.S. This increases pressure on global trade partners and may lead to market uncertainties.
Impact on Global Markets
Tariff adjustments may exert significant pressure on international trade. The tariffs are expected to raise operational costs and reassess international trade strategies. Scott Benson remarked: "For stablecoins and other digital assets to thrive globally, the world needs American leadership. The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act."
Cryptocurrency Markets Under Tariff Pressure
Historically, trade tensions, such as tariff increases, can lead to heightened volatility in markets. As of now, Bitcoin (BTC) is trading at $108,499.71, with a market cap of $2.16 trillion. Recent data signifies a 36.28% increase over the last 90 days, with a 24-hour trading volume change of 37.26%.
The tariff increase in the U.S. will undeniably impact the global financial markets, fostering conditions of heightened volatility and uncertainty, especially for cryptocurrencies.
