Former President Donald Trump criticized the European Union for failing to present a fair trade agreement, while also highlighting stringent ongoing negotiations with Japan.
Trump specifically pointed to the imminent implementation of pharmaceutical tariffs, signaling potential shifts in global trade dynamics.
Market analysts interpret these remarks as primarily focused on tariff-related concerns. Some suggest the immediate impact on markets might be tempered by the possibility of extending tariff suspension deadlines.
Businesses are reportedly operating under assumptions of tariff rates ranging between 10% and 20%, with market expectations factoring in an average rate near 10%.
The outlook for global economic growth is seen as heavily dependent on the success of Trump’s proposed trade deal and anticipated interest rate cuts. Analysts warn that failure to achieve progress on these fronts could dampen risk appetite across various sectors, including cryptocurrencies.
This potential dampening of risk sentiment is viewed by analysts as a factor that could negatively impact Bitcoin market sentiment amid the broader global trade discussions.