Trump Tariffs: India Proposes Zero Tariffs on U.S. Goods, BTC Rises

TLDR

• India has offered to reduce tariffs on U.S. goods to zero in an effort to resolve the trade dispute.
• Trump criticized India’s trade practices, highlighting the one-sided nature of U.S.-India trade relations.
• Bitcoin’s price surged to over $109,000, benefiting from the news of potential tariff reductions between India and the U.S.
• Analysts predict Bitcoin could reach between $135,000 and $150,000 following the recent rebound.
• Metaplanet, a Japanese company, acquired 1,009 Bitcoins, signaling growing institutional confidence in the cryptocurrency.

U.S. President Donald Trump revealed that India is offering to reduce tariffs on U.S. goods to zero. This development comes as Bitcoin’s price rebounds, breaking through the psychological $109,000 level. The tariff dispute, which has affected both nations, could soon see a resolution.

India Offers Concessions on Trump Tariffs

Trump shared the news of India’s offer in a Truth Social post. He stated, “India is now willing to cut their tariffs on U.S. goods to nothing.” Trump also noted that this move should have happened earlier, emphasizing that it’s “getting late” for such adjustments.

Trump explained the background of the dispute, emphasizing the one-sided nature of trade. The U.S. is one of India’s largest clients, but sells little to India, he said. He added that high tariffs from India have hindered American businesses from entering the Indian market.

BTC Price Rebounds Amid Trade Discussions

Bitcoin’s price rose amid the potential breakthrough in the Trump tariffs dispute. The cryptocurrency surged to $109,890 before stabilizing around the $109,000 mark. As the tariff issue moves towards resolution, analysts expect Bitcoin’s price to continue to strengthen.

Bitcoin’s recent rally could see its price reach between $135,000 and $150,000. Positive news about potential trade agreements between India and the U.S. has lifted investor sentiment in the crypto market. Institutions have also shown confidence by accumulating more Bitcoin.

Institutional Accumulation and Analyst Concerns

Metaplanet, a Japanese company, recently acquired 1,009 Bitcoins for $112 million, bringing the company’s total holdings to 20,000 BTC. Such moves highlight institutional confidence in Bitcoin, especially amid favorable news on trade relations between India and the U.S.

Despite the bullish outlook, some analysts remain cautious. Titan of Crypto noted a potential bearish trend for Bitcoin, suggesting a double top pattern. If this plays out, Bitcoin could dip to around $99,000, he warned.