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The cryptocurrency markets initially seemed to benefit from Trump’s policies, yet his insistence on tariffs has disrupted the balance. Trump appears to be pushing risk markets to their limits, demonstrating a willingness to face dire consequences. His policies, which contribute to rising inflation, contradict his claims that interest rates will lower, creating an uncertain environment for cryptocurrencies. As the article was being finalized, both Musk and Trump were making significant statements.
Statements from Elon Musk and Trump
Trump aims to reduce government spending through the Government Efficiency Department (D.O.G.E) to stabilize inflation. However, achieving this will require saving billions of dollars in daily government expenditures, a target he has yet to approach.
On Friday, Zelenskiy is set to sign an agreement with the U.S. regarding rare earth elements. Trump stated today that they would get their money back, expressing hope for increased European assistance to Ukraine.
Regarding inflation, Trump has started to express more cautious views, claiming they will halt rising prices of eggs and other goods. While he suggested that savings through DOGE could reach up to one trillion dollars, many find this assertion hard to believe.
Elon Musk stated that the primary goal of DOGE is to close the budget gap. He emphasized the urgent need to cut spending, warning that without it, America faces bankruptcy. To reduce the deficit by one trillion dollars by the 2026 fiscal year, Musk insists on saving four billion dollars daily.
On China, Trump expressed that he would refrain from commenting on whether China should forcefully take Taiwan. He noted his good relationship with President Xi and expressed a desire for China to invest in the U.S. He maintained that tariffs would continue, though not all would be enforced.
