Market Uncertainty Rises as Trump Imposes Tariffs

In a move that has sent ripples through the global markets, US President Donald Trump has imposed tariffs on Mexico, Canada, and China, with the European Union potentially next. This decision has sparked a wave of uncertainty, significantly impacting the cryptocurrency market.

Retaliatory Measures Announced

In response to the tariffs, China, Canada, and Mexico have announced retaliatory measures. Notably, Canada has proposed imposing 25% tariffs on $155 billion worth of American goods. The European Union has also voiced its criticism, warning of firm retaliation if European exports are targeted.

Impact on Cryptocurrency

At 12:26 pm ET, Bitcoin experienced a 3.05% drop, falling to $97,512. A minute later, Ethereum saw a 3.60% decrease, selling for $3,003. These fluctuations highlight the volatile nature of the cryptocurrency market in response to global economic tensions.