US President Donald Trump is preparing to announce a new round of reciprocal tariffs aimed at reducing the US trade deficit, which is the largest in the world.
Trump's New Tariffs: What to Expect
Trump aims to reduce the US trade deficit, which increased from -98.06 billion to -131.38 billion USD since January. Much of the deficit is tied to countries like China, Mexico, and others. Rumors suggest an aggressive initial approach might be avoided, with some sensitive sectors exempted.
How Previous US Tariffs Affected Crypto
In February, after announcing tariffs on China, Canada, and Mexico, Bitcoin price dropped by 17.5%. Beginning the month at $102,314.57, it fell to $84,400 by month's end.
How April 2 Tariffs Might Impact Crypto
If tariffs are aggressive, negative impacts on stock and bond markets could spill over to crypto. However, limited or delayed tariffs might trigger a relief rally.
Donald Trump's new tariff plans could significantly impact the cryptocurrency market. Investors should closely monitor the developments.
