Increase in Tariffs on Canadian Goods Denied by White House
The White House has issued a statement denying reports that President Trump signed an executive order to raise tariffs on Canadian goods. On August 1, 2025, the White House had issued an executive order increasing the additional ad valorem tariff rate on certain products from 25% to 35%, in response to concerns about Canada's insufficient cooperation in addressing fentanyl and illicit drug trafficking across the northern border. However, the White House has since clarified that no such order has been issued.
This announcement comes as a relief to markets, which have been speculating about the potential impact of tariff increases on Canadian goods. Analysts suggest that the current trade rumors lack substantial evidence, preventing direct impacts on the crypto market.
Meanwhile, the crypto world continues to buzz with activity. Pepe Dollar ($PEPD) presale is picking up pace as Ethereum (ETH) hovers over $3,600. Ethena and major tokens are preparing for massive unlock events.
In other news, Sophia Panel, a data-driven and strategic thinker with strong storytelling instincts, has been invited as a speaker at Indian Web3 Summits and global blockchain forums. She has a significant online presence, with accounts on multiple social media platforms including Facebook, Twitter, and SoundCloud.
The Securities and Exchange Commission (SEC) aims to transform the U.S. crypto regulation framework, while Tether has surpassed South Korea as a major U.S. Treasury holder. Emirates will accept Bitcoin and crypto payments through Crypto.com by 2025, and Hamieverse has tapped Abstract to power its debut blockchain game and purpose-driven ecosystem.
Historical precedence shows that trade-related governance can affect asset stability, but unverified announcements like those currently circulating do not warrant immediate market shifts. However, it is essential to monitor developments closely and adapt strategies accordingly.
In the world of stablecoins, Toncoin offers UAE Golden Visas for a $100,000 pledge, while Hong Kong is expected to license stablecoins by 2026. The licensing process faces regulatory challenges, as reported by the Financial Conduct Authority.
Sophia Panel is passionate about educating underserved communities about blockchain potential. A Fed official has advocated for a stablecoin regulatory framework, and the Senate Committee has advanced a digital asset regulation framework.
In the midst of these developments, ETH remains a dominant player with 11.80% market dominance. ETH observed a 30-day rise of 51.17% amidst volatile market conditions. Binance Alpha has airdropped Toshi tokens to eligible users, and BlockDAG's Full Coin Access Offer Eclipse XYZVerse Hype.
A whale moved 25,540 ETH from FalconX, facing a $10M unrealized loss. Arkham has uncovered a $14.5B Bitcoin theft from LuBian Mining Pool in 2020. Gate US has officially launched to offer secure and compliant crypto trading to U.S. customers, and the RBA has expanded CBDC tests with 24 new use cases.
The alleged tariff increase could potentially disrupt markets, but no current economic or crypto impacts are recorded. The trade disputes do not currently pose a threat to crypto stability.
[1] White House statement denies tariff increase on Canadian goods. (2025, August 10). Retrieved August 12, 2025, from https://www.whitehouse.gov/news/statements/white-house-statement-on-tariff-changes-on-canadian-imports/
[2] Executive Order 14193 details tariff changes on certain Canadian products. (2025, August 1). Retrieved August 12, 2025, from https://www.federalregister.gov/documents/2025/08/01/2025-15549/executive-order-on-addressing-the-threat-from-illicit-narcotics-including-fentanyl-synthesized-in-china
[3] Proclamation adjusting tariffs on imported copper products. (2025, August 1). Retrieved August 12, 2025, from https://www.federalregister.gov/documents/2025/08/01/2025-15550/proclamation-adjusting-tariffs-on-imports-of-copper-and-aluminum-articles
- The denial of the tariff increase on Canadian goods by the White House has brought relief to markets, as analysts suggest that current trade rumors lack substantial evidence and will not have a direct impact on the crypto market.
- Despite the ongoing politicians and policy-and-legislation developments such as the Securities and Exchange Commission aiming to transform the U.S. crypto regulation framework and the Senate Committee advancing a digital asset regulation framework, the trade disputes do not currently pose a threat to crypto stability.
- Meanwhile, in the crypto world, Sophia Panel, a prominent figure in the blockchain community, continues to advocate for educating underserved communities about the potential benefits of blockchain, while projects like Pepe Dollar ($PEPD) presale and Ethena's massive unlock events are gaining momentum.
