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If tariffs had not been imposed, cryptocurrency markets could have seen unprecedented highs in recent months. Despite the prevailing upward trend, global trade tensions, identified as the most significant in a century, have disrupted the growth. This situation has made it crucial to determine whether Trump will concede to agreements. What did Trump have to say on this matter?
Trump’s Last-Minute Announcements
During a recent speech at the White House, Trump addressed tariff-related issues. Last month, he expressed that everyone would eventually need to make agreements with the United States and emphasized his refusal to back down. Now, he is calling for unity, suggesting that trade partners are eager to negotiate with the U.S.
Bessent made a statement last week predicting that the first official agreement would be seen by the end of this week. However, no agreement has materialized as of the first business day of the week.
Key highlights of Trump’s statements include:
“The film industry is being destroyed by other nations. I want to support the film industry and plan to meet with industry representatives. I need to ensure they are satisfied with the customs duty concept.
We are well-positioned to resolve the conflict in Ukraine. Russia wants to make a deal, and so does Ukraine. Given the drop in oil prices, we are in a good position to negotiate with Russia.
I believe the Canadian Prime Minister wants to reach an agreement. China is very eager to negotiate.”
Within four days, it will become evident how eager each party is to make deals. Should recent statements by the Treasury Secretary prove unfounded, this could adversely impact risk markets. Bessent is under pressure this week to provide tangible results after Trump declared he was negotiating with 200 countries.
