Could Trump Be Announcing Major Trade Deals Soon?
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Synopsis
US President Donald Trump has hinted at the imminent announcement of major trade deals while signing the GENIUS Act, a groundbreaking stablecoin regulation. Discover the implications of these developments for US trade relations and the future of digital currencies.
Key Takeaways
- Trump hints at major trade deals coming soon.
- GENIUS Act provides federal oversight of stablecoins.
- Tariff negotiations are ongoing with key trading partners.
- Stablecoins could revolutionize financial technology.
- The US aims to become the crypto capital of the world.
New York, July 19 (NationPress) US President Donald Trump indicated that significant trade agreements are on the horizon. "They might even be announced today... or perhaps later. We will make it happen," Trump remarked during the signing ceremony of the stablecoin act at the White House.
"When I distribute the documentation showing that you're subject to a 35% or 40% tariff, that's a negotiation. Following that, they will reach out to explore the possibility of a different sort of deal, such as allowing more trade with their nation," Trump elaborated.
Recently, Trump signed an executive order to prolong the 90-day pause on extensive US reciprocal tariffs from July 9 to August 1, amid ongoing trade discussions with several key trading partners, as reported by Xinhua.
Trump asserted on social media on July 8 that there will be no modifications or extensions to the August 1 deadline, when tariffs will commence.
On Friday, Trump enacted a pivotal stablecoin act during a White House ceremony, marking the first federal regulation in this domain.
The Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, was approved by the US Senate in June and the House of Representatives on Thursday.
Trump has championed this bill and recently played a role in convincing some Republican lawmakers to support it.
"The GENIUS Act establishes a straightforward regulatory framework to unlock the tremendous potential of dollar-backed stablecoins. This could represent a monumental shift in financial technology, akin to the advent of the Internet," Trump stated.
The act delineates standards for stablecoins, a type of digital currency linked to the US dollar or other fiat currencies.
According to the GENIUS Act, the Federal Reserve and the Office of the Comptroller of the Currency will oversee stablecoin issuance.
The legislation also mandates that issuers routinely disclose information about their reserves, including US currency, demand deposits, Treasuries, and other approved assets.
Trump hinted at taking further steps to position the United States as the global leader in crypto, asserting that the adoption of stablecoins would elevate demand for US Treasuries, lower interest rates, and bolster the dollar's status as the world's reserve currency.
With an estimated market value of around $250 billion, dollar stablecoins are predominantly utilized as a transitional asset for trading or as a means to access dollars in nations facing hyperinflation or other monetary challenges.
Point of View
It is essential to recognize the potential impact of Trump's trade announcements on both domestic and international markets. The GENIUS Act represents a forward-thinking approach to digital currencies, aligning the US with technological advancements while navigating complex trade negotiations.
NationPress
19/07/2025
Frequently Asked Questions
What is the GENIUS Act?
The GENIUS Act is the first federal regulation governing stablecoins in the US, providing a framework for their issuance and oversight.
What are the expected trade deals?
While specific details are yet to be revealed, President Trump has indicated that they could involve tariff negotiations aimed at enhancing trade relations.
How will the GENIUS Act affect the economy?
The GENIUS Act is expected to foster innovation in digital currencies, potentially increasing demand for US Treasuries and reducing interest rates.
What impact do stablecoins have?
Stablecoins serve as a bridge for trading and accessing dollars, especially in countries facing economic instability.
When will tariffs start being enforced?
According to President Trump's announcement, tariffs will begin on August 1, with no extensions or changes to this deadline.
