Bitcoin Soars As US Prepares To Enact Tariffs! Here Are The Details

“My understanding is that the tariff announcement will come tomorrow. They will be effective immediately, and the president has been teasing this for quite some time,” White House Press Secretary Karoline Leavitt told reporters on Tuesday.

Trump on April 2 plans to roll out tariffs on global trading partners during an event planned for 4 p.m. in the White House Rose Garden, the centerpiece of his effort to bring back manufacturing to the US and reshape a world trade system he has long decried as unfair.

Leavitt provided few clues about the size and scope of the levies, but said Trump would be willing to listen to foreign governments and corporate leaders who ask for lower rates. She said many nations had already contacted the administration about the president’s plans.

“Certainly, the president is always up to take a phone call, always up for a good negotiation, but he is very much focused on fixing the wrongs of the past and showing that American workers have a fair shake,” she said.

The spokeswoman also downplayed market volatility ahead of the announcement. Investor fears that tariffs could drive up consumer prices have driven a weeks-long US stock selloff.

“Like they were in his first term, Wall Street will be just fine,” Leavitt said.

Source: Bloomberg Europe

The news is seen as a win for the Trump administration, which has blasted friends and foes alike for "ripping off America for years" on tariffs.

The directive, which takes immediate effect, was made in coordination with Prime Minister Benjamin Netanyahu and Economy Minister Nir Barkat. However, it still requires final approval from the Knesset Finance Committee before it can be fully implemented.

The decision comes after Smotrich sent a letter on March 20 to Barkat and Agriculture Minister Avi (JO:AVIJ) Dichter, urging the removal of tariffs, particularly in the agricultural sector. This is in response to the US administration’s plan to impose reciprocal and sectoral tariffs on trading partners, including Israel, starting April 2.

By scrapping the tariffs on US imports, Israel aims to maintain a strong trading relationship with the United States and potentially avoid the impact of the new tariffs set by the US administration. The directive is expected to have immediate implications for trade between the two countries, particularly for Israeli importers and consumers of US goods.

Source: Investing

Wall Street's bullishness on gold doesn't appear to be wavering as the precious metal hit yet another all-time high.

On Tuesday futures (GC=F) made their 19th intraday record of the year, surging above $3,170 per ounce before paring gains ahead of President Trump's reciprocal tariff plan announcement expected on April 2.

"Within the commodities complex, long Gold presents the obvious hedge for risky market exposure in our view, especially since the bullish medium-term trend dynamics remain firmly intact," JPMorgan analysts said in a note on Tuesday.

Most notable is the rapid pace at which gold has risen, notching its best quarterly performance in nearly 40 years

JPMorgan's researchers note gold went from $2,500 to $3,000 per ounce in 210 days, much faster than previous $500 increments, which took an average of 1,700 days.

Year-to-date gold prices are up 19%, while over the past year the commodity is up more than 40%.

"A simple regression analysis shows that over the period since early 2024, gold has turned into a momentum trade, which appears to be backed less by fundamentals and driven more by momentum," wrote Societe General researchers and strategists in a note last month.

"Our view is that this momentum dynamic will remain broadly intact," they wrote. The firm expects gold will reach $3,300 by year-end.

A stack of one kilogram gold bullion bars sit inside a vault in Germany. Photographer: Michaela Handrek-Rehle/Bloomberg · Bloomberg Creative via Getty Images

Goldman Sachs analysts recent raised their year-end price target to $3,300 "reflecting upside surprises in ETF inflows and in continued strong central bank gold demand." The firm also identified potential events which could spark selling and create better entry points for investors.

"First, a Russia-Ukraine peace deal would likely trigger speculative selling," Goldman commodities strategist Lina Thomas said in a note last Wednesday.

"Second, while not the base case of our portfolio strategists, a potential sharp equity sell-off may trigger margin-driven gold liquidation," she added, noting that a sell-off would be "short-lived."

In the meantime, near-term price action may depend on the exact details of President Trump's highly anticipated announcement at the White House rose garden on Wednesday. Trump is expected to announce reciprocal tariffs on imports from other countries.

"Tariff-related information has already been partly reflected in gold prices over the past week," said Linh Tran, market analysts at XS.com. "If President Trump delays the implementation of these policies, the market may witness a short-term correction in gold as investors take profits after a strong rally."

Source: Yahoo Finance

A YouGov survey carried out in Denmark, France, Germany, Italy, Spain, Sweden and the UK found that if the US tariffs went ahead, large majorities – ranging from 79% of respondents in Denmark to 56% in Italy – favoured retaliatory levies on US imports.

That assessment was shared by 71% of respondents in Spain, 70% in France and Italy, 62% in Sweden, 60% in the UK and half of Danes questioned in the survey, which was carried out in the second and third weeks of March.

Source: Theguardian

“Welcome to the zone of asymmetric demand.”

Bitcoin 7-day average exchange inflows. Source: Axel Adler Jr./X

“This suggests lower selling pressure on Binance, with many traders possibly adopting a more neutral stance.”

Binance vs. other exchange BTC inflows from short-term holders (screenshot). Source: CryptoQuant

Source: Cointelegraph