Good News on US Tariffs, Which Negatively Affect Cryptocurrencies

The White House is rethinking its approach to tariffs set to take effect on April 2, opting to focus on reciprocal tariffs targeting specific countries rather than implementing industry-wide duties originally planned for sectors such as autos, pharmaceuticals and semiconductors. US President Donald Trump has described April 2 as “Liberation Day” for the US, highlighting his commitment to implement reciprocal tariffs designed to bring US tariffs in line with those imposed by key trading partners. But an administration official confirmed that sector-specific tariffs are unlikely to be announced that day, with the primary focus being on reciprocal tariff measures. The strategy shift was first reported by Bloomberg. The fate of tariffs on Canada and Mexico, initially justified by the administration over fentanyl smuggling concerns, remains unclear. The White House has not commented on whether or when they will be implemented. Related News: BREAKING: Binance Announces New Altcoin to Airdrop to Certain Users The administration is taking a more selective approach than previously envisioned, according to people familiar with the planning. The reciprocal tariffs are expected to target the “dirty 15” countries, which have persistent trade imbalances with the U.S. Treasury Secretary Scott Bessent recently noted that these countries account for a significant portion of U.S. foreign trade and are likely to face the largest tariff hikes. While the administration has not formally identified targeted countries, a Federal Register notice last month by the U.S. Trade Representative pointed to countries with significant trade imbalances including Australia, Brazil, Canada, China, the European Union, India, Japan, South Korea, Mexico, Russia and Vietnam. *This is not investment advice. Continue Reading: Good News on US Tariffs, Which Negatively Affect Cryptocurrencies