New U.S. tariffs, effective from April 5, impose a minimum 10% import duty on all trading partners. Higher, country-specific tariffs will start on April 9, affecting about 60 countries. China faces the steepest increase, with a new 34% tariff added to the existing rate, totaling 54%. The European Union will encounter a 20% tariff. These tariffs aim to encourage reshoring, fund tax cuts, and level the playing field for U.S. manufacturers. The U.S. calculated these tariffs based on trade deficits and exports. For instance, Vietnam’s 90% tariff aligns with its $123.5 billion trade deficit and $136.6 billion in exports to the U.S. Global stock markets felt the pressure, with the Nikkei 225 dropping 2.8% and the FTSE 100 losing over 1%. Nasdaq futures fell more than 3.5%, and Vietnam’s market plummeted 5.5%. The U.S. dollar weakened, with the yen at 147 and the pound at 1.31 against it, and the dollar index dropped to 102.5. Amidst this turmoil, Bitcoin slid to $83,000, remaining below its 200-day moving average of $86,400. The U.S. 10-year Treasury yield stayed just above 4%, the lowest since October.
Joe Consorti
@JoeConsorti
·
Jan 31 Bitcoin dropped like a stone on news that 25% tariffs on Mexico/Canada, and 10% tariffs on China go into effect tomorrow.
Micro2Macr0
@Micro2Macr0
·
3h Yep. The tariffs were VERY high and broad. So, over the short term, #Bitcoin could drop quickly and probably bounce just as hard, given retaliatory tariffs don’t hit hard.
Crypto94 – Owner of Infinity Gainz
@CryptoExpert101
·
14h What a con. The market priced in the 10% tariffs accross all countries from a few days ago.
So today he comes out with different tariffs ranging from 50% to 10% causing a market dump. Totally unexpected to be this harsh!!
34% China
20% EU
24% Japan
S Korea 25%
Russia 0% ?
Crypto Rover
@rovercrc
·
Mar 8 BREAKING:
CHINA ANNOUNCES 100% TARIFFS ON SELECT CANADIAN IMPORTS…
GLOBAL TRADE WAR JUST STARTED
PRAY FOR #BITCOIN
Kevin Sailly
@KevinSailly_
·
Feb 28 $BTC filling the gap from CME and fair value on the weekly time frame, technically retracing gains from Trump’s election victory.
The selling pressure was also driven by Trump’s decision on trade tariffs.
He will implement import tariffs on Mexico and Canada in early March,
PanterAI
@PanterAIDAO
·
Mar 27 “Raising debt to buy Bitcoin, despite having billions in cash.”
CryptosRUs YouTube channel.
Today’s tariff news led to a sell-off in US markets and crypto, but Bitcoin quickly recovered.
https://youtube.com/watch?v=Y4y1suT0ohQ…
#Bitcoin #CryptoNews #MarketAnalysis
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
