US President Donald Trump revealed that several major trade deals are on the horizon while presiding over the signing ceremony for the landmark GENIUS Act, which regulates stablecoins for the first time at the federal level.
President Trump Hints at Imminent Trade Agreements
During the White House event, President Trump announced that a couple of ‘big trade deals’ could be finalised soon.
“They could almost do it today … maybe later on. We’ll do it,” he said.
He explained that issuing steep tariffs often triggers swift negotiations.
“When I send out the paper that you’re paying a 35 per cent or 40 per cent tariff, that’s a deal. Then, they’ll call and see if they can make a little bit different kind of a deal, like opening up their country to trade,” he added.
US President Trump recently extended a 90-day suspension on sweeping reciprocal tariffs—from July 9 to August 1—to allow time for continued trade negotiations. He confirmed via social media on July 8 that the August 1 deadline is final and that tariffs will take effect afterwards without further delay.
US President Trump Signs GENIUS Act Into Law
On Friday, President Trump signed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act into law.
The bill, which passed the Senate in June and the House of Representatives this Thursday, establishes the first federal framework for regulating stablecoins—digital assets pegged to fiat currencies such as the US dollar.
The US President, a vocal supporter of the bill, played a key role in lobbying Republican lawmakers to back the legislation.
“The GENIUS Act creates a clear and simple regulatory framework to establish and unleash the immense promise of dollar-backed stablecoins,” said Trump. “This could be perhaps the greatest revolution in financial technology since the birth of the Internet itself.”
The act tasks the Federal Reserve and the Office of the Comptroller of the Currency with overseeing stablecoin issuance. It also requires issuers to regularly disclose information about their reserves, which must include US currency, demand deposits, Treasuries, or other approved assets.
President Trump Envisions Crypto-Led Financial Dominance
The US President expressed ambitions to position the US as the global hub for crypto innovation.
He believes stablecoin adoption will boost demand for US Treasuries, reduce interest rates, and reinforce the dollar’s role as the world’s primary reserve currency.
With a current market capitalisation of around $250 billion, dollar-backed stablecoins are already widely used for trading and accessing the dollar in countries suffering from hyperinflation or monetary instability.
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