The anticipated scenario regarding tariffs is unfolding, but developments are not entirely positive. While Bitcoin 
$62,841 valued at $108,600 finds buyers, the new announcement by the US President about tariffs casts doubt due to repeated statements concerning the July 9 deadline, affecting the credibility of his assertions. Notably, cryptocurrencies have yet to factor in these developments.
Tariffs and Cryptocurrencies
This week, Trump has sent trade letters related to tariffs to numerous countries and continues to do so. These letters, imposing rates akin to those on April 2, state that new rates will be implemented on August 1. This decree gives a three-week negotiation window, marking what Trump describes as his final ultimatum.
Regarding tariff agreements, talks with the EU are ongoing. While the India agreement is reportedly near completion, a concrete agreement remains elusive. Although a deal with countries like South Korea seems plausible, they, too, received the August 1 letter yesterday. Unable to achieve his desired outcomes through tariffs, Trump issued his final warning through letters, which is unfavorable for cryptocurrencies.
Earlier, Trump posted the following on his official social media account:
“In addition to the letters sent yesterday to various countries, as outlined in the letters that will be sent today, tomorrow, and over the upcoming short period, TARIFFS WILL BE IMPLEMENTED FROM AUGUST 1, 2025. This date will see no changes. In other words, all payments will become due and payable as of August 1, 2025. No extensions will be granted. Thank you for your interest in the matter!”
At the time of writing, Bitcoin showed a slight decline. Will Trump’s threatening remarks, akin to saying “this is the last time,” drag cryptocurrencies down? This remains to be seen.
