Market Uncertainty Grows as Trump Imposes Tariffs

In a significant market shakeup, Bitcoin's value dropped below $98,000 this Sunday. This downturn comes in the wake of US President Donald Trump's controversial decision to impose tariffs on Mexico, Canada, and China, with the European Union potentially next in line.

Global Retaliation Against US Tariffs

In response to these tariffs, China, Canada, and Mexico have announced retaliatory measures. Notably, Canada has proposed imposing 25% tariffs on $155 billion worth of American goods, signaling a sharp escalation in trade tensions.

EU Voices Concerns Over Trade War

The European Union has also expressed its disapproval of Trump's actions, warning of firm retaliation should European exports be targeted. This growing conflict raises concerns over the potential for a full-blown global trade war.

At 12:26 pm ET, Bitcoin was down 3.05%, trading at $97,512. Shortly after, Ethereum experienced a 3.60% drop, selling for $3,003.