Global Markets React to Trump's Trade Tariffs

In a dramatic turn of events, Bitcoin's value dropped below $98,000 this Sunday. This significant dip comes amidst growing market uncertainty, fueled by US President Donald Trump's recent decision to impose tariffs on Mexico, Canada, and China, with the European Union potentially next in line.

Retaliatory Measures from Affected Countries

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

EU's Stance on Trump's Trade Policies

The European Union has also voiced its criticism of Trump's move, warning of firm retaliation should European exports be targeted. This development adds another layer of complexity to the ongoing global trade disputes.

Impact on Cryptocurrency Markets

At 12:26 pm ET, Bitcoin was observed to be down by 3.05%, trading at $97,512. Shortly after, Ethereum experienced a 3.60% drop, selling for $3,003. These fluctuations highlight the volatile nature of cryptocurrency markets in response to global economic uncertainties.