President Donald Trump stated that the US is likely to complete most trade deals by the set deadline of August 1. This announcement comes following a recently concluded deal with Japan.
Completion of Trade Deals by August 1
Trump mentioned that the US plans to finalize most of its trade deals by August 1. This announcement is accompanied by a recent agreement with Japan, which led to a reduction in tariffs from 25% to 15%.
Negotiations with the European Union and Other Countries
Negotiations with the European Union are also ongoing; however, Trump expressed doubts, stating that the chances of reaching a final deal are only 50%. He noted that the EU must lower its tariffs to finalize the agreement. The US has also successfully negotiated lower tariffs with several Southeast Asian countries, while talks with China and Canada are continuing.
Impact on the Crypto Market
The completion of trade deals could have significant implications for the crypto market. Uncertainty in international trade has previously caused volatility in Bitcoin and other cryptocurrencies. The success or failure of these deals may significantly impact market direction. Trump also noted that negotiations with China are nearly complete, while discussions with Canada have faced difficulties.
The completion of trade deals by August 1 could not only influence traditional financial markets but also alter the dynamics of cryptocurrencies. Success in negotiations with the European Union and other countries may lead to improved conditions in the financial markets.
