Bitcoin 
$63,379‘s price has dropped back to $85,000, causing a swift decline in cryptocurrencies. It seems as if the reserve announcement has never happened. Donald Trump claims he will punish the world during his second presidential term, and we are on the brink of a significant global trade war. Trump appears extremely determined in this endeavor.
Global Trade War and Cryptocurrencies
Trump has begun making significant moves to sit at the negotiation table with strength, but today’s statements seem aimed at overturning the table. With cryptocurrencies turning downward again, Trump’s unwillingness to compromise on tariffs raises concerns among traders. BTC is currently valued at $85,730.
Trump discussed imposing additional tariffs on countries that weaken their currencies to gain trade advantages. Major economies like Japan and China are likely to face their share of these sanctions. He reiterated his plan to double tariffs on China from 10% to 20%.
“There is no room for agreement on tariffs against Mexico and Canada. I will inform you tomorrow night; I don’t believe the Ukraine minerals deal is finished. A 25% tariff on Canada and Mexico will start on Tuesday. Mutual tariffs begin on April 2.”
“I will evaluate the free trade agreement with Argentina. I will penalize countries, including China, that weaken their currencies with tariffs.”
“I will speak with Mexican President Sheinbaum. I don’t anticipate much retaliation from China. More tariffs on China will depend on their retaliation.”
Following these statements, the USD/JPY exchange rate has declined. Currently, the Canadian Foreign Minister announced they are preparing to impose tariffs on $155 billion worth of U.S. goods. Trump’s reluctance to negotiate is prompting other countries to take a stand as well. If China makes additional retaliatory decisions in the following hours, the U.S. may enter an irreversible path. This situation disrupts balances and exacerbates negativity in risk markets.
