Market Uncertainty Rises as Trump Imposes Tariffs

In a bold move that has sent ripples through global markets, US President Donald Trump has imposed tariffs on Mexico, Canada, and China, with the European Union potentially next in line. This decision has sparked a wave of uncertainty, leading to a significant drop in Bitcoin's value, falling below $98,000 on Sunday.

Retaliatory Measures Announced

In response to Trump's tariffs, China, Canada, and Mexico have announced retaliatory measures. Canada, for instance, has proposed 25% tariffs on $155 billion worth of American goods. The European Union has also voiced strong criticism, warning of firm retaliation should European exports be targeted.

Impact on Cryptocurrency Market

The cryptocurrency market felt the immediate impact of these developments. At 12:26 pm ET, Bitcoin was down 3.05%, trading at $97,512. A minute later, Ethereum experienced a 3.60% drop, selling for $3,003.