Trump "25% tariff on Canada and Mexico effective from the 4th"
"Confirmed 20% tariff on China... Also raises tariffs on US agricultural imports"
Coins including BTC soar one day, plummet the next... Market is full of pessimism
);)
President Trump announced through an official White House statement on the 4th that he will implement a 25% tariff on Canada and Mexico starting from the 4th, and raise the tariff on China to 20%. That's not all.
On his social media platform 'Truth Social', Trump mentioned on the 4th, "Great American farmers should prepare to produce lots of agricultural products to be sold in the US", and "the tariffs will be applied from April 2nd".
As President Trump expanded the tariff war, fears of inflation spread again in the asset market, and the cryptocurrency market, which had soared on the 3rd, plummeted again on the 4th. On the 4th, BTC fell about 8%, and many ETH, XRP, SOL, and ADA also fell about 14%, 17%, 19%, and 21% respectively.
Earlier, President Trump mentioned the US government's cryptocurrency reserves, which led to an average increase of over 15% in the cryptocurrency market on the 3rd. The cryptocurrency market, which had soared, plummeted in a day, and the market is full of pessimistic forecasts.
In particular, the cryptocurrency media Cointelegraph reported that "the 'Trump rally' in the cryptocurrency market on the 3rd is similar to the 'Xi Jinping rally' in 2019", and "the BTC that soared due to Chairman Xi's remarks in 2019 recorded a 70% drop in 30 days".
BTC recorded $86,240 as of 9 am on the 4th based on CoinMarketCap.
