Tariff Tango: Will Canada and the U.S. Dance to a New Tune? 💃🕺

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What to know:

  • It appears there’s a 70% chance that the trade war between Canada and the U.S. will be as extinct as the dodo by May, according to the Polymarket odds and the ever-optimistic Commerce Secretary Howard Lutnick.
  • Our dear Lutnick’s hints at negotiations seemed to soothe the markets, with bitcoin frolicking above $87,000 like a happy puppy in a field of daisies. 🌼

In a twist that would make even the most seasoned soap opera writer raise an eyebrow, there’s a 70% chance that the trade war between Canada and the U.S. will be over by May. This delightful tidbit comes courtesy of Polymarket contracts and the ever-chipper Commerce Secretary Howard Lutnick, who told Fox Business that U.S. President Donald Trump is, shockingly, open to negotiation. Who would have thought? 🤔

On a rather dreary Tuesday morning, Canada and Mexico found themselves facing a rather hefty 25% tariff on all products entering the U.S. President Trump, in his infinite wisdom, cited their failure to curb fentanyl trafficking and illegal immigration as a national security threat. Because, of course, that’s the real issue at hand. 🙄

But lo and behold, later in the day, Lutnick appeared to dangle a carrot of negotiation, with odds rising 20% in a matter of hours on Polymarket. It’s like watching a game of poker where everyone is bluffing, and yet somehow, they all end up friends.

“I think [Trump is] going to work something out with them,” Lutnick declared, sounding like a character straight out of a romantic comedy. “It’s not going to be a pause, none of that pause stuff, but I think he’s going to figure out: you do more, and I’ll meet you in the middle someway and we’re going to probably announce that tomorrow.” Ah, the sweet sound of diplomacy! 🎉

Lutnick’s comments also seemed to calm the crypto markets on this ‘Turnaround Tuesday,’ with bitcoin (BTC) up 1.5% and trading comfortably above $87,000, according to the ever-reliable CoinDesk Indices data. It’s a rollercoaster ride, folks!

The CoinDesk 20 (CD20), a measure of the performance of the world’s largest digital assets, is up 2% on the news. Who knew that tariffs could be so thrilling? 🎢

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2025-03-05 03:06