Cryptocurrency investors faced another turbulent day, as the market has not seen any significant benefits since mid-December. Recently, the trend has been marked by declining altcoin values. At the time of writing, new announcements from Trump have begun to unfold, particularly concerning tariffs imposed on countries with trade surpluses.
Significance of Trump’s Statements
The ongoing announcements are pivotal for cryptocurrencies. Trump emphasizes that the United States does not engage in equitable trade practices and highlights his intention to take action against all countries that benefit disproportionately. A mutual tariff will be implemented against problematic trade partners effective April 2.
Trump stated that the EU will update its customs tax to 2.5%, which he appreciates. He mentioned, “We will consider countries using the VAT tax system. VAT will be treated like a tariff. They take much more from us than we take from them.”
“There will be no allowance for products to be sent through other countries to evade customs taxes. Other nations may reduce or eliminate their tariffs. If goods are produced or constructed in the U.S., there will be no customs tax. The reduction of the EU customs tax to 2.5% is a significant win.”
Lutnick commented on the issue, noting that “VATs are a type of export subsidy.” He added that Trump intends to address each country individually, mentioning discussions with Canada and Mexico regarding Chinese and Indian goods.
Most importantly, Trump announced, “INTEREST RATES WILL FALL.” He stated that interest rates would decisively decrease. However, markets do not anticipate any interest rate cuts until September at the earliest, with expectations extending nearly to the end of 2026.
