Bitcoin Falls as Key Deadline Approaches for Trump ‘Reciprocal’ Tariffs

Bitcoin’s prize fell under $ 77,000 on Tuesday when investors waited for the steepest taxes included in the trade war of US President Donald Trump to take effect.

The White House has already imposed a basic line rate of 10% for all American entry, after the announcement of Trump ‘Liberation Day’ last week, but individualized, “mutual” rates for dozens of countries would be implemented at midnight east.

White House Pers Secretary Karoline Leavitt confirmed that Chinese input will be an additional 50% rate on Tuesday, which yields a total percentage of 104%, per NBC News.

“It was a mistake for China to take revenge,” she said during a press conference, referring to Beijing’s decision to prevent Trump’s rates with his own 34% taxes On the entry of the US.

The largest cryptocurrency per market capitalization recently changed owner around $ 76,500, a decrease of around 2% in the last 24 hours after rising more than $ 80,000 earlier Tuesday. The active fell on Monday to $ 74,700, according to the crypto data provider Coentecko.

“The price reaction in BTC has been mild compared to earlier broad market sales,” wrote David Lawant, head of research at the crypto-market maker Falconx, in a recent comment, adding that “we may be in for a period of lateral heel or even further deterioration.”

US Treasury Secretary Scott Bessent said Monday on X that the White House could keep “meaningful negotiations” with more than 50 countries that have hit Trump’s rates in the coming weeks. He told later Fox NewsHowever, That some negotiations could last in June.

As the self -imposed deadline of Trump approached mutual rates, countries like Canada were ready to penetrate their own countermeasures. Canadian Prime Minister Mark Carney said At X, 25% rates on certain vehicles would come into effect at midnight.

“President Trump has caused this trade crisis – and Canada responds with goal and with violence,” Carney added.

Trump’s trade war has roasted shares in the field of fears that rates can squeeze the bags of our consumers and at the same time contribute to a delay in economic growth all over the world. The technically heavy Nasdaq and S&P 500 started Tuesday’s trade session in De Green, but closed 2.1% and 1.6% respectively.

This week, investors will receive a new inflation lecture for Trump’s trade regime. The American Bureau of Labor Statistics will release its consumer price index on Thursday.

Published by James Rubin