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Trump’s Tariff Actions Plunge Markets, Impact on Cryptocurrencies Unclear
Trump’s Tariff Actions Plunge Markets, Impact on Cryptocurrencies Unclear
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On April 11, 2025, Donald Trump imposed 145% tariffs on Chinese products, causing a sharp market crash. The NASDAQ fell by 26%, with notable declines in Tesla (56%) and Apple (35%). U.S. interest rates soared, prompting Trump to suspend some tariffs, particularly on Chinese tech products, in an attempt to stabilize the markets. This sequence of events has raised questions about Trump’s motives, with some seeing it as a geopolitical strategy and others as a retreat under market pressure and China’s leverage. The broader implications include a potential shift towards a multipolar world, where the U.S. may lose its economic dominance. The impact on cryptocurrencies, including BTC, ETH, LTC, and others, remains uncertain at this time.
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