Market Uncertainty Grows as Trump Imposes Tariffs

In a dramatic turn of events, Bitcoin has fallen below the $98,000 mark. This significant drop comes in the wake of US President Donald Trump's decision to impose tariffs on Mexico, Canada, and China, with the European Union potentially next in line.

Retaliatory Measures Announced

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

EU Criticizes Trump's Move

The European Union has also weighed in, criticizing Trump's aggressive trade policies. The EU has warned of firm retaliation should European exports become targets of these new tariffs, further complicating international trade relations.

At 12:26 pm ET, Bitcoin was down 3.05%, trading at $97,512. A minute later, Ethereum also saw a significant drop, sliding 3.60% to sell for $3,003.