Crypto markets on edge as Trump threatens historic tariff hike on China
In an unprecedented move, Trump upped the stakes in the ongoing trade war, threatening to raise tariffs on China to 104% while the crypto market remains on edge.
After the Chinese retaliation to the latest US tariff push, U.S. President Donald Trump is threatening further measures. On April 7, Trump announced on his social media platform Truth Social that China would face an additional 50% tariff if it didn’t remove countermeasures.
Notably, China introduced 34% retaliatory tariffs on all US goods, mirroring the same measure by the United States. Now, Trump has given China an ultimatum to remove its retaliatory tariffs by April 8, or face new measures.
“If China does not withdraw its 34% increase…
