Trader Michaël van de Poppe wrote that the tariffs “won’t be as bad as the entire population expects them to be.”“Uncertainty fades away.Gold will drop.‘Buy the rumor, sell the news,’” he said.“Altcoins & Bitcoin goes up.‘Sell the rumor, buy the news.’”BitMEX founder Arthur Hayes said that while the tariffs may reduce the trade deficit, fewer exports could limit the demand for US Treasurys, requiring domestic intervention from the Federal Reserve to stabilize the market.“The Fed and banking system must step up to ensure a well-functioning treasury [market], which means Brrrr,” he said.“Brrrr” — a reference to the Reserve printing more money — is a theory Hayes has previously suggested could be positive for Bitcoin’s price as increased liquidity enters the market.
Tariffs’ doubtful math, “extraordinary nonsense,” and a looming recession The convenient tariff percentage charts displayed at the signing event at the White House left many questioning exactly how the Trump administration came up with the numbers and why certain countries were chosen. Yale Review editor James Surowiecki wrote that the administration didn’t actually calculate tariff rates plus non-tariff barriers to determine their rates, but rather “just took our trade deficit with that country and divided it by the country's exports to us.” “What extraordinary nonsense this is.”Some have even floated the theory that the administration used ChatGPT to come up with the countries and numbers.
US President Donald Trump introduced a slew of tariffs on April 2, sending markets into a tailspin and dividing crypto observers as to their possible long-term effects. At a special event at the White House, Trump signed an executive order and claimed emergency powers, leveling reciprocal tariffs at every country that has a tariff on US goods, starting at a 10% minimum.
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