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Bitcoin Climbs as Trump Signals Tariff Easing
Bitcoin saw a notable rise on Tuesday following a relatively quiet session the day before, as U.S. President Donald Trump hinted at potential relief on automotive import tariffs.
By 4:40 p.m. Saudi time, the world’s largest cryptocurrency had gained 2%, trading at $86,025.
Potential Auto Tariff Relief Amid Ongoing U.S.-China Trade Tensions
On Monday, President Trump suggested the possibility of exempting certain foreign car imports from the 25% tariff, offering some relief to key trading partners such as Mexico and Canada.
These comments, set against a backdrop of rising global trade uncertainty, signaled a more selective approach to tariff enforcement and offered a glimmer of optimism to financial markets.
The Trump administration had already rolled back some planned tariffs, including exemptions for a range of electronics — notably smartphones and laptops — primarily imported from China.
Still, investor caution remains high, especially with discussions ongoing around new tariffs targeting semiconductors and pharmaceuticals — two sectors deeply embedded in global supply chains.
While the proposed exemptions may offer temporary relief, the broader outlook for U.S. trade policy remains unclear, keeping markets in a state of heightened sensitivity.
Reports: Trump Administration May Use Tariff Revenue to Buy Bitcoin
In a surprising twist, reports suggest the Trump administration is considering using tariff revenues to purchase bitcoin, aiming to bolster national cryptocurrency reserves without increasing debt or raising taxes.
This comes after an executive order by Trump to establish a strategic crypto reserve, according to media sources.
