US Hits China With New Tariffs Up To 245% Escalating Tensions
The post US Hits China With New Tariffs Up To 245% Escalating Tensions appeared on BitcoinEthereumNews.com.
A new round of tariff increases from the US to China, up to 245% this time The White House states national security and China’s retaliatory measures as the reasons for the increase The effect might not be immediate or acute as in some previous rounds It’s another day, another round of US tariffs aimed at China. The White House announced new duties reaching up to 245% on Chinese imports Wednesday, marking a significant ramp-up in economic tensions between the two superpowers. The move follows a series of tit-for-tat tariff escalations, with the US citing national security concerns and China’s retaliatory measures as justification for the massive rise. This announcement is fresh, so the full market reaction is still unfolding, but volatility is expected. Previous rounds of tariff hikes definitely caused chaos across financial markets, crypto included. US stock indices experienced notable declines, with the S&P 500 falling by 3.45%, the Nasdaq dropping 4.31%, and the Dow Jones Industrial Average decreasing by 2.54%. Crypto had a similar pattern, if not worse, depending on the cryptocurrency. For instance, Bitcoin dropped to below $75k, a big decrease from January when it was over $100k. Currently, the price sits in a range of $83k – $84k. Granted, this was all during the announced tariffs on the majority of countries. Eventually, those got paused for 90 days, bringing some stability back. However, China was exempt, and there’s a chance the crypto market won’t take that much of a beating this time. What’s the Likely Market Impact of These New China Tariffs? While these new tariffs are steep, their immediate effect might be less severe than some previous rounds. This is mainly because the previous tariff announcements, especially first-time policy shocks, tend to cause more panic than follow-up increases. Also, unlike before, this is only aimed…
