#TrumpTariffs
Trump's tariffs on the steel sector, is volatility guaranteed for cryptocurrencies?💸💸
The climate of détente surrounding the ceasefires of the trade war driven by Donald Trump seems to be coming to an end. The U.S. president appears willing to resume his rhetoric on two of the main fronts: the European Union and China. This suggests a volatile environment for financial markets, including cryptocurrencies.
It was recently reported that the White House will impose a 50% tariff on steel imports. This measure comes amid ongoing negotiations between the parties to resolve tariff differences. As expected, Trump's new move provoked an angry reaction in Brussels.
According to CNBC, a spokesperson for the European bloc stated that they are already preparing retaliatory measures against this surprising decision. The official warned that if an agreement is not reached, retaliatory measures would be applied on June 14th or even earlier if the situation demands it. "This decision adds more uncertainty to the global economy and raises costs for consumers and businesses on both sides of the Atlantic," he lamented.
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