After a long wait, US President Donald Trump announced his reciprocal tariffs in his long-awaited speech, casting doubt on the next Bitcoin price. Determined to set trade policies for the benefit of the United States, President Trump said it is time for Tit-for-Tat tariff policies. This announcement has temporarily derailed the price of Bitcoin. The coin has now stalled from its short-term rally.
President Donald Trump Reciprocal Tariff, What to Expect
The Liberation Day’s impact on the crypto market has long been analyzed. Despite the previously announced tariffs on autos and other markets, President Trump said the tariffs will also expand to “nonmonetary” barriers like currency manipulation and “pollution havens.”
Besides this, in the President’s speech, countries like Cambodia may see charges of up to 49% on goods. China, India, and the European Union will face 34%, 26%, and 20% tariffs. Per the list of countries released by the Presidency, the U.S. government discounted its tariffs on the nations involved.
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