Beijing Retaliates Against Trump’s Tariffs, Imposes 15% Duty on American Goods

Crypto and Stocks Under Pressure as U.S.-China Trade War Heats Up

The latest escalation in trade tensions is weighing on risk assets, including cryptocurrencies.

Key Points:

• China announced new tariffs on U.S. imports, including a 15% levy on wheat, corn, cotton, and chicken, plus an additional 10% duty on sorghum, soybeans, pork, beef, seafood, fruits, and vegetables. These take effect on March 10.
• This move follows President Trump’s decision to double tariffs on Chinese goods to 20%, alongside new 25% tariffs on imports from Mexico and Canada, set to begin Tuesday.
• The global markets reacted negatively, with stocks and crypto sliding. Bitcoin (BTC) has dropped 2% to $84,200, per data from CoinDesk and TradingView.

With trade tensions rising, investors remain cautious about further volatility in financial markets.