White House: ‘Wall Street Will Be Just Fine’—Analysts Less Certain
According to multiple accounts, U.S. President Donald Trump’s much-anticipated “Liberation Day” announcement is slated for 4 p.m. ET, broadcast from the White House Rose Garden. In the lead-up, financial markets have experienced pronounced fluctuations—touching equities, gold, and leading digital assets such as bitcoin. Here’s a breakdown of what has come to light so far and what could be on the horizon as Trump reaffirms his “America First” doctrine.
White House: ‘Wall Street Will Be Just Fine’—Analysts Less Certain
The 47th U.S. President, Donald Trump, is set to make a major announcement today, unveiling a wide-reaching tariff initiative labeled “reciprocal,” designed to address what he describes as years of inequitable trade conduct by both friendly nations and rivals alike. At its core, a tariff is a government-imposed tax or duty applied to imported goods—and in rare cases, exports. These charges can take the form of a flat fee or be calculated ad valorem, meaning they’re determined as a percentage of the item’s declared value.
Trump asserts that the tariffs will free the U.S. economy from reliance on overseas products, bring manufacturing jobs back home, and shrink the trade gap. Proposed rates span from a flat 20% across all imports to customized percentages based on the exporting country. Prior reports indicate that foreign automobiles and car parts are already set to face a 25% tariff beginning Thursday. According to ABC News, on April 1, White House press secretary Karoline Leavitt addressed reporters, stating:
“April 2, 2025, will go down as one of the most important days in modern American history.”
Skepticism surrounding the tariff proposal runs deep among Democrats, economists, and market analysts alike. Investor sentiment has wavered, with Goldman Sachs raising its probability of a recession to 35% in light of possible economic disruptions. Experts caution that the tariffs could drive up consumer costs, unravel supply networks, and invite retaliatory actions from foreign governments—raising the specter of a global trade conflict or a potential recession in the U.S. economy.
Although many point out that the cost of imported goods is likely to climb, the Trump administration is urging consumers to pivot toward domestic alternatives. “Liberation Day,” as it’s been named, is still being refined, according to the White House press secretary, who emphasized that Trump is ensuring “this is a perfect deal for the American people and the American worker.” Until now, each instance in which tariffs were proposed or even hinted at by Trump toward foreign nations has sent global markets—including equities and crypto assets—into sharp, unpredictable motion.
“The crypto market is jittery in anticipation of ‘Liberation Day’ tariffs today, despite the fact that these tariffs have zero direct impact on crypto or blockchain projects,” Chris Chung, the founder and CEO of Solanaswap platform Titan, told Bitcoin.com News. “For weeks now, token prices have been driven by a general sense of unease about the macro environment, which just shows that crypto is still overwhelmingly seen by investors as a highly volatile tech stock – and will remain so for the time being.”
The Titan executive added:
“Increasingly, it seems like the POTUS is willing to accept the short-term pain of tariffs for the perceived long-term gain it will bring. This is pushing up inflation expectations, and if inflation does start getting out of hand, all risk assets will suffer.”
BTC/USD on April 2, 2025, at 10:38 a.m. ET. Hours before Trump’s announcement.
On April 2, bitcoin (BTC) climbed from the $84,600 range to $85,800 by 10:30 a.m. ET on Wednesday. The top cryptocurrency has gained 2.66% over the past 24 hours. Meanwhile, the broader crypto market has advanced by 2.11% ahead of Trump’s announcement, bringing its total valuation to $2.75 trillion. Stocks have wobbled, with the Nasdaq, S&P 500, Dow Jones, and NYSE all posting slight declines. Gold has inched up 0.37%, trading at $3,126 per ounce, reflecting a more measured tempo ahead of the “Liberation Day” blueprint reveal.
“Nervousness about the incoming wave of U.S. tariffs has kept the FTSE 100 in the red, as investors assess the UK vulnerability and the knock-on effects for the global economy,” Susannah Streeter, head of money and markets at Hargreaves Lansdown told Bitcoin.com News in a market note. “The S&P 500 also opened on the back foot but has clawed back some ground. Concerns continue to swirl about stagflation taking hold in the U.S., given that tariffs are expected to push up consumer prices and act as a drag on growth, and worries ricochet about further turmoil ahead.”
Markets appear to be faring better today, largely because investors anticipate clearer direction from Trump’s remarks later this afternoon. However, this recent uptick and relative calm could swiftly unravel once the full details of his plan are made public. The day prior, the White House stated that Trump has “made up his mind” on tariffs, adding his assurance that “Wall Street will be just fine.” Whether that confidence holds remains an open question.
