Trump gives China one day to remove tariffs or face 50% increase, Bitcoin stumbles
Portfolio Pulse from
U.S. President Donald Trump issued an ultimatum to China, demanding the removal of a 34% tariff increase by April 8th or face a retaliatory 50% tariff hike. Trump accused China of long-term trading abuses and threatened to terminate ongoing discussions. The announcement immediately impacted markets, causing U.S. equity futures to dip and triggering a significant sell-off in digital assets.
April 07, 2025 | 3:45 pm
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NEGATIVE IMPACT
Bitcoin experienced a sharp decline, falling from near $83,000 to $78,000, losing over 6% within hours following Trump's aggressive trade rhetoric.
Geopolitical tensions and potential trade escalation create market uncertainty, causing investors to sell risky assets like Bitcoin. The sudden announcement triggered immediate market reaction and risk-off sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80