On June 3, 2025, President Donald Trump announced an increase in tariffs on steel and aluminum imports to 50%. This measure is aimed at protecting American manufacturers.
Policy Details and Market Impact
Trump, historically known for his protectionist stance, doubled tariffs on steel and aluminum from 25% to 50%. This was confirmed by the White House. The President stated, "Today, I am raising the tariff on steel and aluminum imports from 25% to 50% to protect America's critical industries and national security." Immediate effects are observed in the commodities market, particularly affecting steel, aluminum, autos, semiconductors, and pharmaceuticals. However, there is no evidence of tariff-related changes in cryptocurrency markets or on-chain data.
Global Trade Consequences
Financial and political implications include potential trade partner retaliation, impacting global supply chains. Nevertheless, the U.S.-UK Economic Prosperity Deal may help mitigate some tensions, while cryptocurrency markets and projects remain unaffected. The focus is on sustaining American industry competitiveness against global players.
Cryptocurrency Resilience
Analysts point to potential impacts on traditional markets, yet BTC, ETH, and other cryptocurrencies see no immediate changes. Historical data suggest these tariffs could lead to market volatility, but they primarily influence traditional commodities.
The increase in tariffs on steel and aluminum to 50% raises questions about future economic initiatives and their impact on global trade. Meanwhile, cryptocurrencies continue to demonstrate resilience against changes in traditional sectors.
