Crypto crashes as China retaliates to Trump’s tariffs. ‘There are no winners in a trade war’ – DL News
- Bitcoin fell 3% after China retaliated to Trump’s tariffs.
- China slammed US goods with 34% in additional tariffs.
- Crypto market watchers remain bullish about the market.
Crypto has fallen almost 2% over the past day as traders digest US President Donald Trump’s tariffs before pivoting towards China’s retaliation.
On Friday morning China announced additional tariffs of 34% on US goods, a retaliatory move towards the sweeping regime of tariffs that the White House announced on Wednesday, and labelled the US policy as “unilateral bullying.”
The move brings the US’s total tariff rate against China to 47.5%, according to Goldman Sachs.
“There are no winners in a trade war, and there is no way out from protectionism,” a statement…
