The situation regarding tariffs may significantly impact the cryptocurrency market. This article reviews the preliminary reactions of countries to the imposed tariffs and their potential consequences.
China's Response to Tariffs
The Ministry of Commerce described the tariffs as unilateral bullying, promising to take countermeasures. Since January, the Trump administration had already imposed significant additional taxes on China, with the total tax rate potentially reaching 70%.
European Union Response
European Commission President Ursula von der Leyen announced that the bloc would act in unity. Specific measures remain unknown, and retaliation plans were postponed until mid-April.
CITE_W_A: "If you mess with one of us, you mess with all of us."
Other Countries and Expectations Amid Tariffs
UK Prime Minister Keir Starmer stated that negotiations with the U.S. would continue without sudden retaliation. French Prime Minister François Bayrou called the new tariffs a disaster for the global economy. In Germany, Finance Minister Jörg Kukies expressed hope for an agreement, while India and Japan continue to assess the effects of the measures. Economist Jayati Ghosh noted that high tariffs would negatively impact all countries.
By analyzing the initial responses of countries to the newly imposed tariffs, it is clear that this may negatively affect both the global economy and cryptocurrencies. The uncertainty in markets highlights the need for careful monitoring of the situation.
