Crypto Ignores Trade War: Markets Rally Despite China’s 84% Tariff Hit on the US
- China retaliates, hiking tariffs on US goods to 84% as trade war escalates
- Markets (incl. crypto) recovered recently on news of 90-day pause on other tariffs
- Crypto market rally ignores specific US-China tariff hike, focusing on broader relief
The direct trade dispute between the United States and China escalated further Wednesday, even as broader market sentiment saw relief.
China announced an increase in tariffs on US goods to 84%, which is to take effect on April 10. This represents a direct response to President Donald Trump’s earlier imposition of a 104% tariff on Chinese imports. These tit-for-tat measures have intensified the ongoing trade war between the two largest global economies.
How Did Markets React to Conflicting News?
Interestingly, while specific US-China tensions worsened, broader financial markets, including crypto, showed slight recovery in the last 24 hours. The rally was in response to news reports from the White House announcing a 90-day pause on other planned US tariff hikes (not related to the active China tariffs).
Prior to this pause, Bitcoin briefly fell below $75,000 and Ethereum was testing levels near $1,400.
Comp…
The post Crypto Ignores Trade War: Markets Rally Despite China’s 84% Tariff Hit on the US appeared first on Coin Edition.
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Tariff Time Again: What New US tariffs on China Mean for Your Crypto
Crypto Ignores Trade War: Markets Rally Despite China’s 84% Tariff Hit on the US
- China retaliates, hiking tariffs on US goods to 84% as trade war escalates
- Markets (incl. crypto) recovered recently on news of 90-day pause on other tariffs
- Crypto market rally ignores specific US-China tariff hike, focusing on broader relief
The direct trade dispute between the United States and China escalated further Wednesday, even as broader market sentiment saw relief.
China announced an increase in tariffs on US goods to 84%, which is to take effect on April 10. This represents a direct response to President Donald Trump’s earlier imposition of a 104% tariff on Chinese imports. These tit-for-tat measures have intensified the ongoing trade war between the two largest global economies.
How Did Markets React to Conflicting News?
Interestingly, while specific US-China tensions worsened, broader financial markets, including crypto, showed slight recovery in the last 24 hours. The rally was in response to news reports from the White House announcing a 90-day pause on other planned US tariff hikes (not related to the active China tariffs).
Prior to this pause, Bitcoin briefly fell below $75,000 and Ethereum was testing levels near $1,400.
Comp…
The post Crypto Ignores Trade War: Markets Rally Despite China’s 84% Tariff Hit on the US appeared first on Coin Edition.
Read More