The TRUMP meme coin has climbed 28% in the last 7 days after the US and the UK announced a sweeping trade deal.
The rise shows investors are returning to the country due to confidence boosters from the deal, which are expected to create economic links and market stability.
The trade deal, announced by President Donald Trump and the UK prime minister, Keir Starmer, is focused on increasing trade between the two countries by lowering tariffs and opening up the US market for British goods. Key provisions in the agreement eliminate some non-tariff barriers and provide expanded market access to American foods, including beef and ethanol.
However, despite its improved market performance, the meme coin is still experiencing market volatility. Analysts have, therefore, pointed out that the coin’s growth could be short-term, slightly influenced by the current market sentiment.
Analysts believe the TRUMP coin could soon reach $20 if US-China talks succeed
The White House’s decision to agree to a trade deal with the UK and start talks with China has improved global market sentiment and Trump’s image overall.
The public’s perception of him has taken a more positive turn, even extending to his meme coin, TRUMP. The meme coin holders now see a spike in the token’s prices and look forward to an upward trajectory.
In the past week, the altcoin has surged 28% and is close to breaking its resistance level at $14.53. Should the coin pass this resistance level, the new target to beat will be $17.14.
Moreover, analysts believe the TRUMP coin could spike to $20.00 if negotiations between the US and China succeed. They explained that a trade deal between the two countries would hint at a stronger market outlook and bolster investor confidence.
However, with the excitement around the trade deal news subsiding, it’s clear that growing TRUMP coin momentum is more of a short-term reaction than sustained investor confidence.
Typically, dependence on short-term political events is extremely risky for any crypto asset, especially if market sentiment reverses in the future.
The Trumps have become actively involved in the cryptocurrency sector. The first lady also launched a meme coin in January, and last year, the president and his three sons started a crypto platform called World Liberty Financial.
Meanwhile, Trump Media and Technology Group, where the president is a majority shareholder, announced plans to work with Crypto.com to provide investment products linked to crypto.
This month, the US Justice Department said it would disband a unit dedicated to investigating cryptocurrency-related fraud as digital asset oversight began to loosen.
Trump’s administration cut tariffs on UK luxury car brands in their new trade deal
According to a White House fact sheet, the Trump administration will reduce tariffs on the first 100,000 UK vehicles imported into the country each year to 10%; then, any additional vehicles will be subjected to a 25% levy.
In his Oval Office announcement, Trump even commented:
“We took it from 25 to 10 on Rolls-Royce because Rolls-Royce is not going to be built here. I wouldn’t even ask them to do that. You know, it’s a very special car, and it’s a very limited number, too.”
Donald Trump
Aside from Rolls Royce, other British car brands that could see relief from the tariff reduction are Bentley, Jaguar, Land Rover, and Aston Martin. However, the two have yet to agree on terms for any other consumer product.
Nonetheless, Trump’s top trade adviser, Peter Navarro, claimed that there would be more trade deals, asking the American public to be patient. He added that the agreement with the UK is a template for how they’ll handle other negotiations.
Trump even announced that their deal with the UK is just “the first of many.” His administration, however, still has to settle over 100 trade deals before July 8, when the 90-day pause ends.
He, however, insists that any country that retaliates against its tariffs will regret it, possibly facing higher tariffs.
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