President Trump Announces 'Reciprocal Tariffs' Implementation
Bitcoin retreated to $86,000 in volatile action as the announcements were made.
President Trump has declared that 'Reciprocal Tariffs' will go into effect starting at midnight, marking a significant shift in trade policy. The move is expected to have far-reaching consequences on global markets and trade relations.
Under the new policy, the US will impose tariffs on imported goods equal to the tariffs that countries impose on US exports. This approach aims to create a level playing field in trade and address perceived trade imbalances.
The announcement has caused a stir in the financial markets, with Bitcoin experiencing volatility and dropping to $86,000 during the flurry of news. Analysts are closely watching how other countries will respond to this new trade strategy and the impact it will have on the global economy.