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US President Donald Trump wants to lower some tariffs – he recently promised this in an interview. He wants to react to the prices of everyday goods, which have risen due to his tariff policy. Falling US tariffs could also have a positive effect on the crypto market, but so far Bitcoin and Co. are showing no reaction.
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That’s why Trump Now Wants to Lower some Tariffs
US President Donald Trump wants to lower import tariffs for some goods in order to reduce their prices on the US market – the 79-year-old explained this in an interview published yesterday by Fox News.
Since the inauguration of the new US President in January, Trump has implemented many foreign policy goals through import tariffs. He saw the USA at a disadvantage on the international chessboard. According to his own assessment, he has largely remedied this one-sidedness.
The United States of America has now established separate agreements with the most important trading partners – for example with Mexico, Canada, the EU and most recently also China.
In August, the US President punished goods from Switzerland with import tariffs of 39 percent. Representatives from both countries are currently negotiating to reduce the levies to 15 percent.
The fact that Trump now wants to shelve this approach indicates a rethink in the US government. He had already succeeded in promoting the economy of his home country, Trump told Fox News.
“We are doing phenomenal work. This is the best economy we’ve ever had. (…) Only beef is a little expensive. (…) We’re lowering tariffs on coffee – we have coffee on the way,” the politician said.
Trump also wants to bring other goods affected by price increases back to a healthy cost level.
“We take care of everything quickly and easily. Surgically and beautifully to see. Our costs are much lower,” compares the US President to the time before he took office.
According to Walmart, a traditional Thanksgiving meal under Trump is 25 percent cheaper than under his predecessor Joe Biden in 2024.
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This is how the Crypto Market is Reacting to the US President’s Announcement
The crypto market did not show any noticeably positive reaction to the US President’s announcement that he wanted to lower some tariffs by the time this article was published. Instead, the market continues to struggle against a negatively charged sentiment.
According to the CMC Fear & Greed Index, the market is still in a fear-ridden area with 25 out of 100 points. The total value of the market fell by 1.32 percent to 3.48 trillion US dollars over the last 24 hours.
The Bitcoin price has also fallen since yesterday – the downturn is even significant at -1.70 percent. As a result, BTC is only trading at 103,200 US dollars.
- Bitcoin
(BTC) - Price $100,286.00
- Market Cap
$2 T
Among the 100 largest cryptocurrencies, only a few representatives managed to record significant gains over the last few hours. Seven coins were able to rise by more than two percent in the daily trend. Of these, only one project recorded percentage double-digit gains – AB (AB) grew by 34 percent.
In an interview with Fox News, Trump made it clear that he had only just begun his work. In the future, he wants to further promote the US economy.
“Nine months [in office] is not a long time, but look at what I’ve done with electricity and gas prices.
In the future, he wants to push the gasoline price to around 2.00 US dollars – it is currently at 2.50 to 3.00 US dollars. Over the last nine months, his policies have caused investments of 18 trillion US dollars in the USA – according to Trump, a new international record.
“The economy is my thing and we have the best economy in history,” Trump explains.
