$BTC This reality is unfavorable for cryptocurrency, as it implies tariffs might become permanent. If such a process concludes with countries like the UK, with whom the U.S. is eager to make deals, it may have severe, lasting consequences with countries like China that are unwilling to concede. Discussions around this topic are expected to be intense until July.

A U.S. and a UK official remarked that Trump’s trade announcement with the UK will be limited in scope, that future commitments will be heavy, and that existing 10% universal tariffs will remain.