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President Trump announced plans to raise steel and aluminum tariffs from 25% to 50% starting June 4. This move is part of his administration's efforts to protect domestic manufacturing and impose steep protective tariffs on nearly all goods imported into the US. The average effective US tariff rate has risen significantly, reaching 17.8% as of May 2025.

Impact on Trade
The escalated tariffs have sparked concerns about a trade war, particularly with China, where baseline tariffs on Chinese imports have been raised to 145%. In response, China imposed a minimum 125% tariff on US goods and restricted exports of rare earths critical to high-tech industries

Bitcoin Market Update
Meanwhile, Bitcoin's value dropped below $104,000, experiencing a 6.2% decline over the past week. Over $1 billion has been liquidated in the past 24 hours, with most liquidated positions being Long trades. Investors are slowly locking in profits.

Trump's Crypto Venture
Additionally, Donald Trump's new cryptocurrency, WLFI, is set to launch next month with a market cap of $1.5 billion, according to World Liberty Financial. This move suggests the Trump family is exploring opportunities in the cryptocurrency market.#TrumpMediaBitcoinTreasury $BTC