When it comes to Trump, it’s best to believe half of what he says and none of his rants. Although Trump hints at possible attacks, it seems the winds have shifted once more. Despite past experiences with tariffs and his first presidential term, short-term panic can easily take hold. Notably, cryptocurrencies are on the rise again.
Why Are Cryptocurrencies Rising?
Today, Trump denied a WSJ report, leading markets to believe “yes, he will attack.” However, a recent statement from the White House spokesperson caused BTC to surge back to $104,700. The announcement stated that Trump would decide within two weeks whether to attack Iran. The spokesperson highlighted Trump’s belief in the open diplomatic channel with Iran.
The U.S. Ambassador to Iran, Witkoff, is in contact with Iranian officials as ongoing communications continue. Trump sees a significant chance of successful negotiations with Iran, emphasized by the White House Press Secretary, Leavitt.
The decision pending in the next two weeks and negotiation-centric details appear exceedingly positive. The diplomatic interest of Trump, alongside his willingness to use force, characterizes the current administration’s stance. A potential agreement with Iran should exclude uranium enrichment, reflecting the fact that Iran has come close to acquiring nuclear weapons.
If this tone continues, a deal with Iran might be on the horizon. Iran has already indicated its preference for a diplomatic route over a prolonged conflict. Iran’s Foreign Minister recently confirmed that their nuclear ambitions exclude the pursuit of nuclear weapons, effectively aligning with the proposed agreement’s primary stipulations.
Meanwhile, the topic of tariffs remains pressing. As this article was being prepared, the Canadian Prime Minister made a statement regarding the ongoing situation.
In his remarks, he announced that Canada would adjust its current retaliatory tariffs on U.S. steel and aluminum products by July 21st. The level of these tariffs will be contingent on the progress of discussions aiming for a new economic agreement between the two nations.
Canada plans to implement additional tariff measures to address risks arising from the persistent global surplus capacity in the steel and aluminum sectors and unfair trade practices.
