Trump 'Flips' Tariffs: Prices Skyrocket, Americans Tighten Spending, Crypto Fears Inflation!
President Donald Trump is stirring up the crypto market as he gradually acknowledges that tariffs could cause prices in the U.S. to soar. From his bold statement that tariffs would 'enrich' America, Trump is now urging people to spend less, even 'just 3 dolls instead of 30.' This statement has been criticized as 'insensitive,' especially to low-income individuals, as the prices of goods could spike by 5-100% due to tariffs, especially with China (currently at 145%, Trump is open to reducing it to 80%). The crypto community on X is in a frenzy: rising inflation threatens the flow of capital into DeFi and tokens, pushing FUD (fear, uncertainty, doubt) sentiment to its peak.
Critics, from former officials like Doughlas Holtz-Eakin to Daniel Hornung, warn that Trump's tariff policy will hit the working class hard, which cannot afford expensive goods. Meanwhile, Trump and his advisors remain optimistic, believing that tariffs will boost domestic production, create jobs, and secure '100 trade deals.' Negotiations with 17 out of 18 major partners, including the upcoming meeting with China in Geneva, are being accelerated.
The crypto market is concerned: if inflation explodes, stablecoins and yield farming could be affected, leading to token price volatility. Trump's approval rating has slightly recovered, but Americans remain divided on tariffs. Is Trump playing a risky game with the U.S. economy, or is this a move to dominate global trade? The crypto community on X is buzzing, waiting to see where this 'big bet' leads!