The White House has officially confirmed it will impose an additional 104% tariff on imports from China, effective April 9, marking a significant escalation in the trade tensions between the world’s two largest economies.
This move comes shortly after China announced a 34% additional tariff on U.S. goods starting April 10 and expanded its “unreliable entities list” to include 11 American companies.
Following the announcement, Bitcoin dropped to as low as $74,600. It is currently trading at $75,552, down 5.41% in the past 24 hours.
Leading altcoins have also seen declines of 2% to 10% over the past 24 hours. Among them, ETH is down 10.52%, SOL down 7.25%, XRP down 8.26%, and DOGE down 8.12%.
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