U.S. President Donald Trump has announced plans to implement new trade tariffs starting August 1. These measures could significantly impact global markets, especially the cryptocurrency sector.
Announcement of Tariffs
Donald Trump announced via his Truth Social account his intention to introduce new trade measures affecting at least seven countries, including South Korea and Japan. Tariffs are expected to range from 25% to 40%. "Tariffs will start being paid on Aug. 1, 2025 — No extensions will be granted," Trump stated.
Market Implications
Trump's measures may lead to volatility in the cryptocurrency market. Similar past events have caused fluctuations in assets such as Bitcoin and Ethereum. High tariffs could intensify currency market swings, impacting international trade and investments. No specific cryptocurrency has been referenced yet concerning this announcement.
Historical Context
During the 2018-2019 U.S.-China trade war, Bitcoin and Ethereum experienced significant selloffs as investors adjusted to increased tariffs and potential global market instability. Data from July 8 shows Bitcoin priced at $108,953.47, with a market cap of $2.17 trillion. The 24-hour trading volume reached $44.20 billion, down by 2.69%.
Trump's announcement of new trade tariffs is likely to raise concerns among investors and may lead to instability in the markets, particularly in the cryptocurrency sector. The context of previous trade conflicts underscores the importance of monitoring reactions from major economies and potential implications for the financial market.
