Market Uncertainty Grows as Trump Imposes Tariffs

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

Retaliatory Measures Announced

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

Impact on Cryptocurrency

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 broader market's reaction to the escalating trade tensions.