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🇺🇸🇨🇳 President Trump says "80% tariff on China seems right!"

President Trump’s statement on May 9, 2025, proposing an 80% tariff on China escalates his earlier trade policies, which began with a 10% tariff on Chinese goods in February 2025, doubled to 20% by March, and surged to 145% for most goods by April 9, with some facing 245%, as reported by the BBC.

This tariff hike coincides with China’s retaliatory 125% tariffs on US imports, intensifying the trade war; a 2023 study in the American Economic Review found that US tariffs on China since 2018 increased consumer prices by 0.4% annually, suggesting potential inflationary pressures ahead.

The crypto market, sensitive to such geopolitical tensions, saw Bitcoin drop to $74,500 and Ether fall 20% in early April 2025 after similar tariff announcements, per CCN; this new tariff could further destabilize markets, despite a recent recovery in ETH prices discussed in related X threads.$BTC