Market Uncertainty Grows as Trump Imposes Tariffs

In a move that has sent shockwaves through the global markets, US President Donald Trump has imposed tariffs on Mexico, Canada, and China, with the European Union potentially next in line. This decision has led to a significant increase in market uncertainty, affecting various sectors including the cryptocurrency market.

Retaliatory Measures Announced

In response to Trump's tariffs, China, Canada, and Mexico have announced retaliatory measures. Canada, for instance, has proposed 25% tariffs on $155 billion worth of American goods. The European Union has also criticized Trump's move, warning of firm retaliation if European exports are targeted.

Impact on Cryptocurrency

The market turmoil has not spared the cryptocurrency sector. At 12:26 pm ET, Bitcoin was down 3.05%, trading at $97,512. Shortly after, Ethereum also saw a decrease, sliding 3.60% to sell for $3,003. This downturn reflects the growing uncertainty among investors as the trade war escalates.