While Donald Trump had imposed customs taxes of 25 % on products from Mexico and Canada, the President of the United States finally rear back, at least the time that a potential agreement is reached. A news favorably welcomed by the cryptocurrency market.
Donald Trump backtrack and hangs his “Tariffs”
The month of February begins on the hats of wheels, and to say the least we can say. This Saturday, Donald Trump announced The introduction of his “Tariffs”customs taxes of 25 % against products from of Mexico and Canada. In the process, the 2 border countries of the United States presented their countermeasures in retaliation.
Faced with the launch of this “trade war”, the cryptocurrency market reacted negatively during the weekend. If the price of Bitcoin (BTC) has been impacted, seeing its price drop by almost 8 %, These are altcoinsin particular the Ether (ETH), which were the most affected.
💡 Discover our complete guide to invest serenely in cryptocurrency
However, this Monday, a reversal of the situation occurred. On X, the Canadian Prime Minister who resigned Justin Trudeau announced that he had spoken on the phone with Donald Trump. The 2 leaders would have agreed with a truce, suspending the application of customs taxes for a minimum 30 -day periodtime to find common ground.
The same agreement was concluded with Mexico. “” Our teams will start working on two fronts today: security and trade. They suspend customs duties for a period of one month,, “Said the Mexican president Claudia Sheinbaum.
Sostuvimos una buena conversación con el presidente trump con mucho respeto a nuestra relación y la soberanía; llegamos has an acuerdos series:
1.México Reforzará la Frontera Norte Con 10 Mil Elementos de la Guardia Nacional of Forma Inmediata, Para Evitar El Tráfico de Drogas…
– Claudia Sheinbaum Pardo (@claudiashein) FEBRUARY 3, 2025
Justin Trudeau said Canada would strengthen ” his coordination with his American partner »» by implementing several actions To combat drug trafficking, notably fentanyl, and to combat illegal immigration to the United States. For its part, Claudia Sheinbaum presented similar measures.
I just had a good call with President Trump. Canada is implementing Our $ 1.3 Billion Border Plan – Reinforcing the Border With New Choppers, Technology and Personnel, Enhanced Coordination with our American Partners, and Increased Resources to Stop the Flow of Fenanyl. Nearly …
– Justin Trudeau (@justintrudeau) FEBRUARY 3, 2025
These announcements seem to be in line with Donald Trump's expectations. Indeed, the American president had set up his Tarrifs because he judged that the 2 border countries were not investing enough to put an end to these illegal acts.
Buy cryptos on etoro
After having experienced a black weekend, the cryptocurrency market finds colors
Following these declarations, The cryptocurrency market reacted favorably. Thus, the price of Bitcoin flirts again with the $ 100,000 mark, and that of Ether has slightly rose to more than $ 2,700. Over the last 24 hours, the ground price has climbed 5 % and that of the ADA by almost 10 %, just like that of the XRP.
In parallel, Liquidations have calmed down. After several billion dollars in crypto was liquidated on February 1 and 2, the on-chain data lists $ 550 million in liquidation Over the last 24 hours, 3 to 4 times more than the previous days.
📰 In the news – “They take advantage of us” – Donald Trump tackles Europe and promises clusters of customs duties
Some analysts think that if the tariffs were to be put back in place and to continue, This could have a positive impact on the adoption of cryptocurrenciesand more particularly bitcoin. This is the case of Jeff Park, responsible for alpha strategies at Bitwise, who says that ” The world has not yet understood how prolonged trade war could be beneficial for the BTC ».
Do not miss the Bullrun, join our experts on Cryptoast Academy
Advertisement
Source: Coingecko, quince
The crypto newsletter n ° 1 🍞
Receive a summary of crypto news every day by email 👌
Certain links present in this article may be affiliated. This means that if you buy a product or register on a site from this article, our partner gives us a commission.
Investments in cryptocurrencies are risky. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital
Surprised by the rise of cryptocurrencies at the end of the 2010s, I started to follow from near this sector which fascinates me at the highest point. When I am not in football, rugby or handball room stadiums, I brought myself to write relevant articles around cryptocurrencies and more broadly, of the web3.
Zacharie Tazrout
331 articles
