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Trump Going to TACO on Canada is 'Most Likely Scenario,' Says Anthony Scaramucci: Crypto Punters Weigh Trade Deal Odds
Cryptocurrency traders doubt the U.S. will reduce tariffs on Canada by the end of August, despite Anthony Scaramucci, founder of Skybridge Capital, predicting a quick trade deal between the two countries. The article reports this skepticism and his forecast.
Published:
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What happened
Cryptocurrency traders doubt the U.S. will reduce tariffs on Canada by the end of August, despite Anthony Scaramucci, founder of Skybridge Capital, predicting a quick trade deal between the two countries. The article reports this skepticism and his forecast.
Confirmed
Global impact / market context
If tariffs stay high, Canadian goods become pricier, hurting businesses that rely on cross-border trade. This can reduce company profits and slow economic growth. Crypto prices may react to trade uncertainty because investors see digital assets as risky bets during economic tension.
Analyst inference
Trade disputes often make investors cautious, pulling money from riskier assets like cryptocurrencies. A quick deal could boost confidence and lift crypto prices, while prolonged tariffs might keep pressure on markets. The article mentions specific coins like Bitcoin, but no price moves are reported.
Analyst inference
What to watch
- Watch for any official announcement from the U.S. or Canada about lowering tariffs by the end of August, as the article notes traders are skeptical this will happen. Confirmed
- Investors should monitor crypto market prices, especially Bitcoin and other mentioned coins, for sudden swings if trade deal news emerges, since sentiment is currently divided. Proposed
- If a deal is reached quickly, expect a possible rise in crypto values due to improved risk appetite; if not, continued uncertainty may keep prices volatile. Analyst inference
Affected assets
- TRUMP — MAGA
- ZEC — Zcash
- BTC — Bitcoin
- POL — POL (ex-MATIC)