Donald Trump has introduced new 25% tariffs on most imports from Mexico and Canada, and a 10% tariff on goods from China. These actions have caused changes in the cryptocurrency market and raised concerns in the international community.
Import Tariffs
U.S. President Donald Trump is fulfilling his campaign promises by imposing a 25% tariff on imports from Mexico and Canada and a 10% tariff on exports from China. These tariffs took effect on Tuesday.
Impact on the Cryptocurrency Market
The announcement of new tariffs has affected the cryptocurrency market. Bitcoin (BTC) dropped by 2%, falling below $100,000 after reaching a peak of $106,000 a day earlier. Other cryptocurrencies, such as Ether (ETH), XRP, and Solana (SOL), fell by 8% to 10%.
International Community's Reaction
Canadian Prime Minister Justin Trudeau expressed his concerns on social media, stating that no one wants American tariffs on Canadian goods.
Trump's new tariffs are eliciting mixed reactions both domestically and internationally, exerting significant influence on the global market, including the cryptocurrency sector.
