President Trump has imposed a 25% tariff on nearly all imports from Mexico and Canada, and a 10% tariff on goods from China, effective from Tuesday. These tariffs aim to curb the influx of illicit opioids and other drugs into the U.S. The crypto market, open for trade over the weekend, has reacted sharply. Bitcoin (BTC) has dropped by 2%, hovering just above $100,000 after reaching $106,000 less than 24 hours earlier. Altcoins like ether (ETH), XRP, and solana (SOL) have seen declines of 6%-8%. The CoinDesk 20 Index, a broad market gauge, is down by 4.8%. There will be no exemptions to these tariffs, and they will remain until the president is satisfied that the flow of fentanyl into the U.S. has stopped.
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