Crypto Finds Safe Harbor in Escalating Trade Fights

President Trump's aggressive trade policies are causing uncertainty for businesses, but one sector seems to be bucking this trend: cryptocurrency. The administration has been doubling down on trade confrontations, imposing tariffs on dozens of bilateral negotiations. However, despite the escalating tensions, digital asset policies remain surprisingly supportive.

The US Trade Policy Agenda, released in March 2026, centers on the Agreement on Reciprocal Trade program. This approach involves using a 10% baseline tariff as the opening bid, then negotiating higher reciprocal rates with trade partners. In 2025, multiple deals landed around 15% baseline tariffs, significantly higher than pre-2025 levels.

But what's particularly noteworthy is that crypto has shown resilience to these tariff shocks. After the February 2026 announcement of a 10% universal tariff, Bitcoin and Ether remained remarkably stable. This contrasts with earlier tariff salvos in 2025, which had triggered significant declines as investors retreated from risk assets.

The President's Working Group on Digital Assets has been operating independently of the trade apparatus, pushing executive orders and regulatory reforms designed to make the US the 'crypto capital of the world.' Its independence means crypto-friendly regulation hasn't been used as a bargaining chip in tariff negotiations.