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How has the announcement of a 90-day suspension of Trump's high tariffs on Mexico affected the Binance market?

-Tariff Extension: President Donald Trump announced the extension of existing 25% tariffs on Mexican goods, pausing planned increases set for Friday.

- USMCA Compliance:Goods compliant with the US-Mexico-Canada Agreement (USMCA) remain tariff-free, except for specific sectors.

- 90-Day Negotiation: Trump and Mexican President Claudia Sheinbaum agreed to a 90-day extension of the current deal while negotiating a new trade agreement.

-Trade Relationship: Mexico is the U.S.’s top import source (surpassing China in 2023) and a major market for U.S. exports. Mexico has not retaliated against U.S. tariffs but threatened to do so if tariffs rise.

-Canada’s Status: Similar tariffs apply to Canada, but it’s unclear if Trump will negotiate before a potential 35% tariff deadline.

-Global Tariff Threats: Trump has warned other nations of higher tariffs (rates vary), already imposing a 40% tariff on Brazil (with exemptions). He plans to raise baseline tariffs for most countries from 10% to 15-20%.

Possible Market Reactions:

1. Risk Sentiment & Macro Stability

- The suspension of tariffs may have slightly improved global trade sentiment, reducing short-term uncertainty.

- If markets perceive this as a de-escalation in trade tensions, it could marginally boost risk assets, including crypto.

2. Mexican Peso (MXN) & Crypto Correlation

- The Mexican peso (MXN) often reacts to U.S. trade policies. A stable peso could encourage Mexican crypto traders to remain active.

- If tariffs had been imposed, capital flight into crypto (as a hedge) might have increased—but the suspension likely kept traditional markets stable.

3. No Major Bitcoin or Altcoin Surge

- Binance’s BTC, ETH, and altcoin markets did not show a noticeable spike tied to this news, suggesting minimal direct impact.

- Cryptocurrencies are more influenced by Fed policy, Bitcoin ETFs.