$TRUMP
Hi, I'm Javeria, and I'm here to break down the impact of Trump's tariff announcement on global markets and the crypto space.
*Breaking News: Trump's Tariff Announcement Sparks Global Market Volatility*
President Trump's recent executive orders have imposed a 25% tariff on all imported goods from Canada and Mexico, and a 10% tariff on imports from China. This move has sent shockwaves through global markets, prompting concerns about the potential economic fallout ¹.
*Key Developments:*
- *Tariff Rates:* The additional tariffs for imports from Canada and Mexico will be 25% ad valorem, while imports from China will face a 10% tariff.
- *Products Covered:* The tariffs will apply to all merchandise imported for consumption, except for Canadian energy resources exports, which will face a 10% tariff.
- *Retaliation:* Canada has already imposed a 25% tariff on U.S. imports, and China is likely to retaliate, which could lead to further market volatility.
*Impact on Crypto Markets:*
- *Market Free Fall:* The crypto market has seen a significant decline, with over $700 million liquidated in 24 hours.
- *Traders Wiped Out:* Over 6,000 traders have been wiped out as Bitcoin struggles, and altcoins sink deeper into a bear market.
- *European Exchanges Delist USDT:* European exchanges are delisting USDT, adding more pressure on the crypto market.
*What's Next?*
- *China's Retaliation:* If China retaliates, the market could face even worse shocks.
- *More Tariffs from the U.S.:* Expect stocks, crypto, and the global economy to suffer if the U.S. imposes more tariffs.
- *Time to Rethink Strategies:* The next moves could be make or break; it's essential to reassess strategies and find a safe exit.