Digital assets and equities are soaring on the weekly open amid renewed optimism stemming from the White House taking a softer tone on tariffs.
While tariff threats initially sparked one of the worst stock market drawdowns in recent memory, reports are now suggesting that President Trump’s aggressive trade negotiations may be in the process of a smooth resolution.
Citing “US officials familiar with the matter,” Bloomberg reports that Trump’s reciprocal tariffs may be more targeted than initially anticipated, with some countries being exempt, and some sector-specific levies being delayed by the White House.
The Wall Street Journal reported similar information.
All major stock indices opened the week well into the green, while Bitcoin (BTC) is up 3% on the day and is now up 15% from its 2025 low near $76,500.
Said Tobin Marcus of Wolfe Research in a note seen by CNBC,
“Omitting the sectoral tariffs from the April 2nd package significantly reduces both its aggregate scale and the maximum rate on targeted sectors, given that all of Trump’s tariffs to date have been designed to stack… The ceiling for reciprocal tariffs on April 2 remains dramatic, and we still expect a negative market reaction, but the scale won’t be as severe and the sectoral impacts won’t be as concentrated.”
However, in a post on Truth Social, President Trump announced that “secondary tariffs” would be placed on Venezuela and any country that purchases oil and/or gas from the country. Trump cited numerous reasons, including “the fact that Venezuela has purposefully and deceitfully sent to the United States, undercover, tens of thousands of high level, and other, criminals, many of whom are murderers and people of a very violent nature.”
At time of writing, BTC is trading at $88,013.
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