As many investors learned in 2025, the imposition of tariffs, which are simply taxes on the end-consumers of imported goods, can knock markets around long before they actually change what companies earn from sales or what households buy. It's much the same with the way they affect investor psychology, which is to say that tariffs can take up a lot of headspace without necessarily changing the amount of capital available for investment. The disconnect between headlines and fundamentals is why President Trump's tariffs have so far looked like a minor drag on XRP despite changing nothing about the financial problems the ... (full story)