The US President, Donald Trump, plans to announce a new round of reciprocal tariffs on April 2nd. In a recent statement, he hinted at a possible relaxation of his tough tariff policies. Trump has dubbed this day as the day of America’s economic liberation. It is worth mentioning that in February, imposing tariffs on imports from Canada, Mexico, and China led to a sharp decline in the cryptocurrency market. Bitcoin’s price dropped by at least 17.5% that month. It remains to be seen how this new decision by the Trump administration will affect the cryptocurrency market, especially Bitcoin. Trump aims to reduce America’s trade deficit with these new tariffs. The country has been running a trade deficit since 1976. In January, America’s trade deficit increased from negative $98.06 billion to negative $131.38 billion. America still holds the world’s largest trade deficit. Reports indicate that the new tariffs will target countries with high trade surpluses, creating more barriers for American goods. However, there are rumors that certain sensitive sectors like automobiles, semiconductors, and pharmaceuticals may be exempt from these tariffs. Ultimately, if the April 2nd tariffs are severe, financial markets and cryptocurrencies may react negatively. But if these tariffs are more limited or delayed, markets could grow, and cryptocurrency prices like Bitcoin and Ethereum could improve. On the momentary digital currencies price page, you can see live and instant prices of all tokens and cryptocurrencies.
