US Commerce official buys Bitcoin as Trump tariffs shake markets
US Secretary of Commerce Howard Lutnick has been scooping up stock in companies that could benefit from tariffs, as well as investing in Bitcoin funds.
As US President Donald Trump’s tariffs create an unpredictable trade environment, some members of his administration have been investing in sectors influenced by his policies, including Bitcoin (BTC).
On Tuesday, the Trump administration announced it would extend the tariff delay on China. At the same time, the United States Commerce Department will introduce aluminum tariffs on over 400 different products, including wind turbines, mobile cranes, railcars, motorcycles and construction equipment.
The unpredictability of Trump’s trade tariffs has raised concerns among national trade groups like the National Foreign Trade Council (NFTC), which said they are “delaying growth, disrupting operations, and raising legal concerns among companies.”