FameEX Morning Crypto News Recap | February 4, 2025

Trump's AI and Cryptocurrency Advisor to Unveil Digital Asset Plans

David Sacks, appointed by President Trump as the AI and cryptocurrency 'tsar,' is set to hold a press conference on February 4 at 2:30 PM ET to reveal the U.S. government's strategy for leadership in the digital asset sector.

U.S. Postpones Tariffs for 30 Days as Canada Sends 10,000 Troops to Strengthen Border Security

Canadian Prime Minister Justin Trudeau confirmed that U.S. tariffs will be postponed for 30 days after talks with President Trump. Both leaders showed optimism during the discussion. Trudeau also announced the deployment of nearly 10,000 troops to strengthen border security and fight fentanyl trafficking.

EU Leaders Respond to Trump’s Proposed Tariffs on EU Goods

President Trump announced on February 2 his plans to impose tariffs on EU goods. In reaction, EU leaders met at the Brussels summit on February 3. French President Macron called for unity, Danish PM Frederiksen advocated a collective response, and German Chancellor Scholz stressed that tariffs harm both sides, urging cooperation.

U.S. Manufacturing Confidence Gains as New President Assumes Office

Chris Williamson, chief economist at Standard & Poor's, said the new president's inauguration has sparked optimism in the U.S. manufacturing sector. As a result, business confidence for the year ahead has surged, reaching its highest point in almost three years.

Goldman Sachs Strategist Cautions Trump’s Tariffs Could Lead to 5% Decline in U.S. Stocks

Goldman Sachs strategists cautioned on February 3 that Trump’s new tariffs could trigger a 5% decline in U.S. stocks. David Kostin, a strategist at the firm, explained that investors were caught off guard by the announcement, expecting the tariffs to be implemented only if trade talks broke down.

U.S. Tariffs Could Prolong Delay in Fed Rate Cuts

Michael Brown, senior strategist at Pepperstone, stated that U.S. tariffs elevate inflation risks, raising the chances that the Federal Reserve will extend its pause on interest rate cuts. As a result, the FOMC may delay rate cuts until later in the first half of the year.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​