Cryptocurrency traders were taken aback by a sudden price surge that quickly reversed. This article explores how Trump's policy could affect the crypto market.
Sharp Decline in Cryptocurrencies
Recently, traders faced an unexpected market drop. Despite a recent surge, sentiment remains uneasy due to discussions about tariff increases.
Tariff Changes and Their Impact
U.S. Secretary of Commerce Lutnick stated that the recent additional tariffs on Mexico and Canada could be swiftly reversed. Donald Trump previously hinted at implementing reciprocal tariffs on Canada.
The Future of Trade Relations
The USMCA is the agreement between the U.S., Mexico, and Canada that replaced NAFTA. Potential tariff changes could positively impact markets, though tariffs on China remain.
Reducing tariffs and improving trade relations could support cryptocurrency markets. Traders should monitor developments as potential changes may significantly affect the market.
