Trump's trade policy is now acknowledged as effective and working, a marked difference from previous terms.

Trump's trade policy is now acknowledged as effective and working, a marked difference from previous terms.

President Donald Trump's trade policy, once a contentious issue, is now being acknowledged as effective and working, a marked shift from previous terms. The recent actions and announcements from the Trump administration reflect a more strategic approach to trade, with significant implications for the U.S. economy and global markets.

One notable development is the nomination of Stephen Miran, the chairman of the Council of Economic Advisers, to serve as a Federal Reserve governor. This appointment highlights the administration's strategy to align the central bank with its broader economic vision [1]. Miran's expertise in economics and his long-standing association with the Trump administration are seen as assets for the Federal Reserve.

In parallel, the Trump administration is considering crypto-friendly nominees for key positions on the Federal Reserve Board of Governors. Among the potential candidates are Kevin Hassett, an economic adviser to the administration with a significant stake in Coinbase Global, and Kevin Warsh, a former Fed governor who is a proponent of blockchain technology [2]. These nominations reflect the administration's broader efforts to shape the central bank’s leadership and influence monetary policy.

Moreover, major U.S. alcohol producers are urging President Trump to cut tariffs ahead of the holiday season. An alcohol association representing Beam Suntory and Brown-Forman sent a letter to the White House, warning that the tariffs could result in a $2 billion sales loss and 25,000 American jobs lost [3]. The letter comes as Trump's new tariffs went into effect at midnight on Thursday, with the European Union being slammed with a 15% tariff rate on most goods. The coalition, which includes 57 associations and guilds, is urging the U.S. and EU to come to an agreement to secure fair and reciprocal trade on spirits and wine.

The timing of these appointments coincides with a growing debate over the regulatory treatment of digital assets. A recent White House report has called for a reassessment of federal regulations surrounding digital assets, signaling a potential shift in policy direction [4]. These moves suggest that the administration is seeking to influence both the immediate and long-term trajectory of U.S. monetary policy, with possible implications for the crypto market and broader financial stability.

As the administration finalizes its choices for the Fed’s leadership, the market remains closely attentive to how these appointments might shape monetary policy, interest rates, and the regulatory landscape for digital assets in the coming years.

References:
[1] https://news.bloomberglaw.com/banking-law/trump-names-miran-to-fill-seat-on-federal-reserve-board
[2] https://www.ainvest.com/news/trump-considers-crypto-backed-nominees-key-fed-roles-policy-shift-2508/
[3] https://www.businessinsider.com/alcohol-groups-beg-trump-slash-tariffs-holiday-season-2-billion-2025-8
[4] https://www.mofo.com/resources/insights/250806-key-takeaways-from-the-white-house-crypto-report