EddieJayonCrypto
8 Apr 25
President Donald Trump has announced plans to increase U.S. tariffs on China, imposing an additional 50% duty on imports and pushing total U.S. tariffs on Chinese imports to 104%. This has caused BTC and stocks to plummet, with bitcoin dropping to $76,600. China's commerce ministry has labeled the U...
President Donald Trump has announced plans to increase U.S. tariffs on China, imposing an additional 50% duty on imports and pushing total U.S. tariffs on Chinese imports to 104%. This has caused BTC and stocks to plummet, with bitcoin dropping to $76,600. China's commerce ministry has labeled the U.S. tariff escalation as "a mistake on top of a mistake" and pledged to "fight to the end" if the U.S. persists. Trump suggested a deal with China is possible, but his tariff stance has caused global stock markets to fluctuate. President Donald Trump has vowed to increase U.S. tariffs on China beyond 100% within mere hours, prompting BTC and stocks to begin cratering again on Tuesday. - Trump announced plans to impose an additional 50% duty on U.S. imports from China starting Wednesday, in response to Beijing’s retaliatory 34% tariffs on U.S. goods, pushing total U.S. tariffs on Chinese imports to 104%. - China’s commerce ministry labeled the U.S. tariff escalation as “a mistake on top of a mistake,” accusing the U.S. of a “blackmailing nature” and pledging to “fight to the end” if the U.S persists. - This comes after global stock markets steadied on Tuesday after days of turmoil, with European shares recovering from 14-month lows and Wall Street indexes rebounding amid hopes Trump might soften his tariff stance. - As of writing, bitcoin has cratered back to $76,600, after briefly recovering back above $80,000 early Tuesday. - Liquidations in crypto remain high, including $287 million in trades ‘rekt’ in the past 24 hours, across over 99,000 traders, according to Coinglass. - Trump suggested a deal with China is possible, stating on social media that China “wants to make a deal, badly,” and that he’s awaiting their call, though aides indicated talks with allies like Japan and South Korea are being prioritized.