President Donald Trump delivered a major speech at the White House, announcing new tariffs on imports from 50 nations, including BRICS and the European Union.
Announcement of New Tariffs
Dubbed the 'Declaration of Economic Independence,' the move aims to counter what Trump described as unfair trade practices. New tariffs will affect imports from 50 countries, including BRICS and the European Union.
Panic in Crypto Markets
Minutes after Trump’s speech, crypto markets panicked. Bitcoin (BTC) plunged from $88,000 to $85,000 in just 10 minutes before stabilizing slightly at $84,800. Ethereum (ETH) also took a hit, sliding to $1,845, and other cryptocurrencies began to fall.
Absence of Cryptocurrency Mentions
During the half-hour speech focusing on inflation, energy, and manufacturing, Trump made no mention of cryptocurrencies. This omission left crypto investors with questions about the future U.S. policy on digital assets.
Trump's tariff policy may have significant global economic repercussions. The lack of commentary on cryptocurrencies left investors uncertain about U.S. policy direction in digital assets.
