In a recent live address, U.S. President Donald Trump declared that a new base tariff of 10% would be applied universally to all countries.
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However, he also outlined specific measures targeting certain nations, specifying different customs duties based on perceived trade practices.
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Trump emphasized that he expects foreign leaders to halt tariffs imposed on the United States and begin purchasing American-made products.
For countries that fail to meet this standard, he plans to calculate the total impact, including non-monetary trade barriers, and enforce retaliatory measures at half the rate of their existing customs duties.
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Among the targeted regions, the European Union will face a 20% tariff on goods from each member country, while imports from Japan will be hit with a 24% duty.
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Initially, the proposed 10% tariff seemed relatively mild, but once the more detailed measures became clear, the market reaction was swift.
Bitcoin’s value dropped abruptly, reflecting the uncertainty sparked by these aggressive trade policies.
Despite hitting a high above $87,000 earlier, Bitcoin’s price declined to $86,500 after Trump’s announcement.
Alexander Stefanov
