Market Uncertainty Grows as Trump Imposes Tariffs

Following President Donald Trump's decision to impose tariffs on Mexico, Canada, and China, Bitcoin has taken a significant hit, falling below $98,000. This move has sparked a wave of uncertainty across global markets, with the European Union potentially being the next target.

Retaliatory Measures Announced

In retaliation, China, Canada, and Mexico have announced their own measures against the US. 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 should European exports be targeted.

Cryptocurrency Market Reacts

At 12:26 pm ET, Bitcoin was observed to be down by 3.05%, trading at $97,512. Shortly after, Ethereum also saw a decline, dropping by 3.60% to $3,003.