US President donald trump has said that some major trade agreements will be announced soon. He indicated that these agreements are almost ready and can be announced at any time.
During the signing ceremony of the Stablecoin Act at the White House, trump said, 'We can do it today. Maybe a little later. We will. When I send this paper to a country that they have to pay 35 or 40 percent tariff, that's where the deal starts. Then they call and say if there can be some different kind of deal, like opening their country for trade.'
Donald trump has recently signed an executive order, under which the 90-day period of tariffs imposed by the US has been extended from July 9 to august 1. Meanwhile, talks are going on with several major trading partners. trump also made it clear that there will be no further change or extension after the august 1 deadline and the tariffs will start coming into effect from that day.
Trump also signed the historic Stablecoin Act
On this occasion, trump also signed a historic Stablecoin Act, which is America's first federal regulation in this area. trump said, 'The GNIUS Act provides a clear and simple regulatory framework that will bring out the tremendous potential of dollar-backed stablecoins. This act sets standards for stablecoins, which are wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital currencies linked to the US dollar or other fiat currencies.'
It will be monitored by the Federal Reserve and the office of the Comptroller of the Currency. Under this, it will be mandatory for issuers to share information that they have US currency, demand deposits, government securities and other approved assets as reserve funds. trump also indicated that he wants to make America the capital of crypto. According to him, the use of stablecoins will increase demand for US Treasuries, reduce interest rates and strengthen the dollar as a global reserve currency.
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