Paolo Ardoino, the chief executive officer of Tether, which provides the world’s largest stablecoin, said he is “sympathetic to” the Trump administration’s “approach” to imposing tariffs on other countries.
During an interview on Breitbart News Saturday, Ardoino said he believes there should either be “zero tariffs for everyone” or “equal tariffs for everyone.” Ardoino also predicted that “one of the possible downsides” would be a shift “in geopolitical alliances.”
Ardoino’s interview comes days after President Donald Trump announced that there would be a 25-percent tariff imposed on vehicles made outside of the United States. Trump also revealed a chart showing the discounted reciprocal tariffs the U.S. would be imposing on various countries.
“Personally, I am sympathetic to the approach of the administration on the tariffs. I think that there is beauty in symmetry,” Ardoino said.
“Either there are zero tariffs for everyone, or there should be equal tariffs for everyone. I think it’s a very logical approach,” Ardoino continued, while adding that several countries and markets “might not be prepared to respond to this new environment.”
“I feel like that one of the possible downsides is possible shifts in geopolitical alliances. And I think that even more importantly, what we are doing at Tether is creating a tool for [the] United States to broaden and strengthen the United States dollar across all these economies and in the developing countries.”
“I think that while developing countries will continue to suffer for the weakness of their national currencies — because unfortunately they have requirements that are not very strict on monetary controls. The populations in these countries, these people need to have support, need to have stability in their lives. And, the beauty of cryptocurrency, but especially the beauty of the product that we’ve created, our digital dollar, is that is exactly — that thing is the thing that will bring, even in this more difficult moment, while alliances might shift, while there might be geopolitical turmoil — we can bring stability to the people,” Ardoino added.
During the interview, Ardoino also expressed that he “cannot, not appreciate” — in other words, he cannot fail to appreciate — what the Trump administration “has been doing in the last 100 days,” and added that under the past administration the crypto industry was “attacked very heavily.”
Breitbart News’s Sean Moran reported in March that Ardoino praised Trump’s crypto leadership, and explained that Trump’s policies were enabling “American dominance” in things such as Artificial Intelligence (AI) and crypto currency.
