{"id":22820,"date":"2025-04-08T13:46:38","date_gmt":"2025-04-08T10:46:38","guid":{"rendered":"https:\/\/forklog.com\/en\/tim-draper-endorses-trumps-tariffs-and-praises-bitcoin\/"},"modified":"2025-04-08T13:46:38","modified_gmt":"2025-04-08T10:46:38","slug":"tim-draper-endorses-trumps-tariffs-and-praises-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tim-draper-endorses-trumps-tariffs-and-praises-bitcoin\/","title":{"rendered":"Tim Draper Endorses Trump&#8217;s Tariffs and Praises Bitcoin"},"content":{"rendered":"<p>Investor and billionaire Tim Draper has endorsed the tariff policy of U.S. President Donald Trump and expressed confidence in the prospects of Bitcoin regardless of how the situation unfolds.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">I am always for free trade, but I totally get it. President Trump is doing what needs to be done. The other countries have been taking advantage of the US\u2019s decades of benevolence, and they should understand it is a two-way street. Weak leaders like socialist Xi will allow their\u2026<\/p>\n<p>\u2014 Tim Draper (@TimDraper) <a href=\"https:\/\/twitter.com\/TimDraper\/status\/1909280605277479114?ref_src=twsrc%5Etfw\">April 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On April 2, Trump <a href=\"https:\/\/forklog.com\/en\/news\/trump-declares-liberation-day-with-new-tariffs\">announced<\/a> new tariffs for trading partners. A minimum of 10% is set for all countries, effective from April 5. For some partners, &#8220;reciprocal tariffs&#8221; approximately half of those imposed on American goods by these countries will be introduced, starting April 9.<\/p>\n<p>The retaliatory tariffs for China will be 54%, for the EU \u2014 20%, Vietnam \u2014 46%, Taiwan \u2014 32%, Japan \u2014 24%, India \u2014 26%, South Korea \u2014 25%.<\/p>\n<p>According to reports from the White House, about 50 countries have expressed their intention to enter negotiations. The Chinese authorities have imposed mirror tariffs on American goods. The EU has shown readiness to follow this path but has allowed time until May 10 to discuss grievances.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cPresident Trump is doing what is necessary. Other countries have been taking advantage of the US\u2019s benevolence for decades, and they should understand it is a two-way street. Weak leaders like socialist Xi [Jinping] will allow their egos to stand in the way of their country&#8217;s progress, but most smart heads of state will take a practical stance and lower their own barriers for reciprocity,\u201d Draper stated.<\/p>\n<\/blockquote>\n<p>In his view, the United States will gain &#8220;more revenue&#8221; if partners do not accept their demands.<\/p>\n<p>Draper also urged the <span data-descr=\"Federal Reserve System of the USA\" class=\"old_tooltip\">Fed<\/span> not to fear <span data-descr=\"inflation during stagnation or economic contraction\" class=\"old_tooltip\">stagflation<\/span> and to lower interest rates to support job creation in the US.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAll scenarios are good for Bitcoin buyers. It is resistant to inflation and geared towards innovation,\u201d added the venture investor.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Elon Musk Opposes Trump&#8217;s &#8216;Liberation&#8217; Tariffs<\/h2>\n<p>In contrast, Tesla and SpaceX CEO Elon Musk took an opposing stance. He personally tried to persuade Trump to abandon the new tariffs on Chinese goods, but to no avail, reports <a href=\"https:\/\/www.washingtonpost.com\/business\/2025\/04\/07\/musk-trump-tariffs\/\">The Washington Post<\/a>.<\/p>\n<p>Over the weekend, the businessman published a series of posts on X criticizing the president&#8217;s economic advisor Peter Navarro, one of the main architects of the tariff strategy.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cGetting a PhD in economics from Harvard is a bad thing, not a good thing,\u201d Musk wrote.<\/p>\n<\/blockquote>\n<p>In an interview with Italy&#8217;s Deputy Prime Minister Matteo Salvini, the billionaire also said he would like to see a \u201cfree trade zone\u201d between Europe and the US, as well as \u201czero reciprocal tariffs.\u201d<\/p>\n<p>Musk actively participated in Trump&#8217;s election campaign and was one of the main sponsors of the politician.\u00a0<\/p>\n<p>He <a href=\"https:\/\/forklog.com\/en\/news\/dogecoin-rises-after-logo-appears-on-doge-website\">heads<\/a> the Department of Government Efficiency (DOGE) created by the president. The term of this structure, which is not an official government agency, is limited to 130 days. It is expected that by May, the businessman will <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-to-step-down-as-head-of-doge-on-schedule\">return to leading<\/a> Tesla and SpaceX.<\/p>\n<p>As the deadline for the introduction of Trump&#8217;s &#8220;liberation&#8221; tariffs approached, Bitcoin <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-tumbles-below-75000\">failed to hold the $75,000 level<\/a>. After a rebound, the cryptocurrency was unable to sustain above $80,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investor and billionaire Tim Draper has endorsed the tariff policy of U.S. President Donald Trump and expressed confidence in the prospects of Bitcoin regardless of how the situation unfolds. I am always for free trade, but I totally get it. President Trump is doing what needs to be done. The other countries have been taking [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1217,1138,954,26],"class_list":["post-22820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-elon-musk","tag-opinions","tag-tim-draper","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"59","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=22820"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/22819"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=22820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=22820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=22820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}