A Polymarket contract indicates a 70% probability that the ongoing trade war between the United States and Canada will be resolved by May. Commerce Secretary Howard Lutnick, in an interview with Fox Business, stated that President Donald Trump is open to negotiations, increasing the likelihood of a settlement.
Earlier this week, the U.S. government imposed a 25% tariff on all imports from Canada and Mexico, citing concerns over fentanyl trafficking and illegal immigration. Despite the tariffs, Lutnick’s remarks have fueled optimism, boosting expectations for an agreement.
Lutnick emphasized that Trump is determined to find a resolution with Canada and Mexico, stressing that both sides must be willing to compromise. He also hinted that an official announcement regarding a potential deal could be made soon.
Crypto Markets Surge on Trade Resolution Hopes
Lutnick’s comments had a significant impact on the crypto market, particularly on Turnaround Tuesday. Bitcoin (BTC) jumped 1.5%, crossing the $87,000 mark, according to CoinDesk Indices. Additionally, the CoinDesk 20 (CD20), which tracks the largest digital assets, gained 2% in response to the news.
Market analysts believe that a resolution to the trade war could provide a strong boost to global markets, particularly digital assets and equities, as investor confidence strengthens.
Stay tuned to WealthRadars for the latest updates on trade negotiations, financial markets, and cryptocurrency trends.
