Crypto market dynamics: Trump refuses to extend the tariff deadline, Bitcoin, Ethereum and other mainstream tokens fall.

As the July 9 deadline for tariff negotiations approaches, President Donald Trump has ruled out the possibility of extending the tariff suspension period. His hardline stance has triggered turmoil in the crypto assets market, causing Mainstream Token prices to fall.

As Trump makes this decision, he continues to urge multiple countries, including Japan, to reach trade agreements, and threatens to raise tariffs if the negotiations fail.

Trump's Firm Stance on Tariffs and Trade Agreements President Trump made it clear that he does not intend to delay the deadline for increased tariffs on July 9. When asked if he would extend the negotiation period with trade partners, he replied, "I don't think I need to."

The Trump administration has been committed to using tariffs as a tool to negotiate more favorable trade terms with various countries. This has particularly affected relations with Japan, as the two countries have yet to reach a final agreement on trade.

Trump's threat to impose tariffs has triggered a chain reaction in global markets. Investors are watching the progress of negotiations, and many are increasingly concerned about the potential economic consequences. This uncertainty has led to a recent downturn in the crypto assets market, with major digital currencies like Bitcoin and Ethereum experiencing a fall. The market seems to be reacting to the possibility of escalating trade tensions and potential economic instability.

Crypto Assets market reacts to escalating trade tensions The decline in the crypto assets market is due to the uncertainty brought about by tariff negotiations. In the past few days, mainstream tokens such as Bitcoin and Ethereum have both experienced a certain fall. The price of Bitcoin (BTC) has fallen by more than 1.5%, while Ethereum (ETH) has dropped nearly 4%. Meanwhile, the price of Ripple (XRP) has fallen to $2.17, with a decline of 5.24%, and Dogecoin (DOGE) has decreased by 3.5%, currently reported at $0.75.

Trade agreements and geopolitical risks are some macroeconomic factors that may make the crypto assets market sensitive. President Trump ruled out the possibility of delaying tariffs, which heightened investors' uncertainty about macroeconomic impacts. As the trade deadline approaches, the crypto assets market is experiencing significant volatility, and most traders are taking a cautious stance.

Therefore, the ongoing uncertainty surrounding Trump's tariff policy has added extra pressure to the Crypto Assets market. As the possibility of tariff increases becomes more apparent, the market may experience further turbulence in the coming weeks.

Trade Agreement Finalization Challenge

The Trump administration faces challenges in finalizing trade agreements with key partners, including Japan. Despite Trump repeatedly threatening to impose tariffs on countries that fail to reach satisfactory agreements, the U.S. has not finalized many of the deals currently being negotiated. So far, only a handful of agreements have been reached, the most notable being those with the UK and China. However, these agreements do not fully address the trade issues that Trump has emphasized.

Treasury Secretary Scott Banshent acknowledged that the government is unlikely to achieve its ambitious goal of reaching 90 trade agreements within 90 days. Due to the lack of substantive agreements, there are concerns that negotiations may extend beyond the July 9 deadline. Other analysts believe that negotiations could even last until early September, let alone reach any solutions.

The stagnation of trade agreements has not only caused tension in global trade relations but has also led to the current instability in the market. The outcome of such negotiations is now a matter of close attention for investors in the crypto assets market, who are still forced to patiently endure the atmosphere of uncertainty.

(Source: CoinGape)