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The Trump tariff war broke out, BTC97K, TRUMP once fell below $20
President Trump fulfilled his threat to impose a 25% tariff on Canada and Mexico starting from Tuesday, and a 10% tariff on Chinese goods, causing a widespread market decline in the encryption market. BTC has been falling since the weekend, reaching a low of $96,150 this morning, with a 24-hour decline of 3.2%. Ethercoin has fallen below the 3,000 mark, and Trump's meme coin TRUMP briefly fell below $20, a 53.8% decline in the past two weeks.
The United States imposes tariffs on Canada, Mexico, and China
Last Saturday, on (2/1), President Trump signed an order imposing a 25% tariff on goods imported from Mexico and Canada, and a 10% tariff on goods imported from mainland China. Energy resources from Canada will be subject to a lower 10% tariff impact.
Canadian Prime Minister Trudeau (Justin Trudeau) subsequently announced retaliatory tariffs of 25% on $107 billion worth of American goods. Mexican leader Claudia Sheinbaum also pledged to impose retaliatory tariffs. The Chinese Ministry of Commerce released a statement promising corresponding countermeasures without providing details, and pledged to file a complaint with the World Trade Organization.
encryption coin all plummeted
Affected by the tariff war, the US dollar has risen against major coins, and the 10-year US Treasury yield has risen, while encrypted coins have fallen across the board.
BTC has been falling all the way since the weekend, reaching a low of $96,150 this morning