$BTC $ETH $PAXG - Mr. Trump declares to halt tax negotiations Gold benefits as the world fears a crisis!

- President Donald Trump has just announced the cessation of negotiations with each country. Moody's has also downgraded the U.S. from the highest credit rating due to increasing fiscal deficits and rising government interest payments.

- On May 16, President Donald Trump announced that the U.S. would announce tax rates for trade partners within the next 2 to 3 weeks, instead of continuing negotiations with each country.

Many countries have approached the U.S. and requested negotiations on individual agreements, but Trump emphasized that the U.S. "cannot meet all the people who want to meet us." "At the same time, we have 150 countries wanting to reach agreements," Trump said.

President Trump stated that U.S. Treasury Secretary Scott Bessent and U.S. Commerce Secretary Howard Lutnick would be responsible for sending letters detailing the new tariffs that will be applied to each country. "The new tariffs will be very fair, but we will let everyone know how much they will have to pay to do business in the U.S.," Trump added.

The White House has yet to disclose the content of the letters as well as the exact tariffs that will be applied. It is currently unclear whether countries will be given a timeline or conditions to change the tariff levels.

On the same day, the credit rating agency Moody's announced a one-notch downgrade of the U.S., from the highest level of Aaa to Aa1. Previously, in 2023, they had adjusted the U.S. credit outlook from "stable" to "negative," due to increasing fiscal deficits and interest payments.