Donald Trump’s recent tariff imposition on 185 countries has triggered significant market fluctuations. The decrease in S&P 500 futures and Bitcoin prices were among the immediate effects.
Bitcoin Price Drops to $83,000 Levels
At the time of writing, Bitcoin is trading just above $83,000, marking over a 1% decrease over the past 24 hours. Previously, its price had decreased from $87,000.
Trump Announced Tariffs on 185 Countries
Trump has implemented reciprocal tariffs on 185 countries, marking one of the largest tariff implementations in US history. According to The Kobeissi Letter, S&P 500 futures lost about $2 trillion in market cap in 15 minutes following the announcement. The reciprocal tariff policy involves charging countries half of what they charge the US.
China and the EU’s Countermeasures
China’s Ministry of Commerce urged the US to cancel its unilateral measures, promising countermeasures to protect its interests. The EU is also preparing countermeasures if negotiations fail, indicating the serious impact of this policy on the global economy.
Trump’s measures have sparked a wave of responses from global economies and significant changes in financial markets. While traditional markets faced losses, the crypto market remains relatively stable.
