US stock markets and the cryptocurrency sector are witnessing significant losses. The central issues are new tariffs and potential trade wars.
Continued Market Decline
US markets, including cryptocurrencies, are on a downward trend with losses nearing 5%. The market is disillusioned by the lack of short-term resolution to tariff actions. Trump appears unconcerned about the potential recession.
Rising Tariffs and Negotiations
New tariffs are imposed on China, with an expected 20% increase. In retaliation, China has applied 10-15% tariffs on imported food products. Beijing hopes to set the stage for future negotiations, potentially by June.
White House Announcements
In a recent announcement, the White House declared an end to the 'war against cryptocurrencies'. However, the cryptocurrency market remains largely unaffected.
The current situation highlights increased tension in global markets, exacerbated by tariffs and political statements.
