The state of the cryptocurrency market remains unstable amid Trump's statements on Canada and upcoming trade announcements.
Trump and Tariffs
Trump expressed a desire for Canada to potentially become the 51st state, noting that 'it takes two to tango' and emphasizing that dialogue is only possible if both parties are willing. While Trump mentioned fostering good relations with Canada, a formal agreement has not yet been reached. Furthermore, the cabinet previously hinted that a tangible trade agreement with one of the ten largest economies might be realized this week.
Relations with China
Trump maintains his stance that the absence of trade with China results in no losses for the U.S. He noted that Chinese ships are turning back across the Pacific and observed that the Chinese economy suffers from a lack of trade with the U.S.
Unpredictability of Announcements
Despite expectations of trade-related announcements in the upcoming days, Trump suggested it might not be necessary to make any declarations soon. This ambiguity and inconsistency create further risk for cryptocurrency investors. The current mixed signals from the Cabinet about forthcoming announcements, compounded by Trump's sudden suggestion they might not occur, pose a challenge for investors.
Thus, Trump's forthcoming announcements on Canada and relations with China create uncertainty for both trade and cryptocurrency markets.
