President Donald Trump announced major trade agreements would emerge within days during a White House ceremony. The president explained how imposing steep tariffs of 35 to 40 percent forces foreign nations to negotiate better terms. He extended the current 90-day tariff suspension from July 9 through August 1 while talks continue with trading partners. Trump emphasized that no further extensions beyond the August deadline would occur. These tariff threats serve as leverage to open closed foreign markets to American businesses.
Trump signed the GENIUS Act into law Friday, establishing the first federal stablecoin regulations. The legislation passed through both chambers of Congress with presidential backing after Trump lobbied Republican lawmakers. Federal Reserve officials and the Office of the Comptroller will supervise stablecoin operations under the new framework. Companies issuing these digital currencies must regularly disclose their reserve holdings in dollars and Treasury securities. The president described this financial technology as potentially revolutionary since the internet's creation.
Stablecoins maintain their value by linking to the dollar or other traditional currencies. These digital assets currently hold approximately $250 billion in market value worldwide. Countries experiencing severe inflation often use stablecoins to access stable currency alternatives.
Trump signed the GENIUS Act into law Friday, establishing the first federal stablecoin regulations. The legislation passed through both chambers of Congress with presidential backing after Trump lobbied Republican lawmakers. Federal Reserve officials and the Office of the Comptroller will supervise stablecoin operations under the new framework. Companies issuing these digital currencies must regularly disclose their reserve holdings in dollars and Treasury securities. The president described this financial technology as potentially revolutionary since the internet's creation.
Stablecoins maintain their value by linking to the dollar or other traditional currencies. These digital assets currently hold approximately $250 billion in market value worldwide. Countries experiencing severe inflation often use stablecoins to access stable currency alternatives.
