In recent developments, Donald Trump has announced significant changes in global trade, introducing new tariffs and signing important trade agreements.
Trump's New Tariffs
On 'Salvation Day' in early April, Trump announced the imposition of new tariffs that exceeded expectations. Due to high anticipation, a decision was made to postpone tariffs for 90 days, reducing them to a global rate of 10%.
US-UK Trade Dynamics
Recent negotiations have seen the US secure a crucial trade agreement with the UK, accelerated by ongoing conflicts with India. The deal includes a reduction in tariffs on British vehicles, including Range Rovers, and aims for the elimination of nearly all tariffs on beef exchanges, While the UK maintains its stance against hormone-treated beef.
Prospects for Cryptocurrency Markets
There is optimism that agreements, especially with non-China entities, could positively impact cryptocurrency markets. Deals are expected to generate increased interest in cryptocurrencies as trade barriers diminish.
Trump's trade initiatives and new agreements underscore his commitment to strengthening the global economic positions of the US, which may have repercussions for markets, including cryptocurrencies.
