Market Uncertainty Grows as Trump Imposes New Tariffs

Bitcoin experienced a significant drop, falling below $98,000 on Sunday. This decline comes as market uncertainty intensifies following 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 by Affected Countries

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

Impact on Cryptocurrency Market

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