#TrumpTariffs Bitcoin Analyst: a 55% tariff "will not sit well"Bitcoin continues to consolidate just below its all-time highs, as cryptocurrency and risk asset traders assess the implications of the trade agreement between the United States and China.

After an initial surge, Bitcoin retreated upon learning that the agreement included tariffs of 55% on Chinese imports, a rate even higher than the current one. The "trade agreement" between the United States and China includes a "total tariff of 55%" for the United States. The current tariff rate of the U.S. on China is 30%, according to the agreement of May 12. Did the U.S. just raise tariffs on China in a trade agreement?