#TrumpTariffs Trump’s “Liberation Day” Tariffs: What Crypto Traders on Binance Need to Know

By Maryjane Oteri – Crypto & Finance Insider

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1. 📜 What Are “Liberation Day” Tariffs?

On April 2, 2025 — dubbed “Liberation Day” — President Trump unveiled sweeping reciprocal tariffs through Executive Order 14257. These measures impose hefty duties on imports from key partners:

• 25–50% tariffs on steel and aluminum

• 25% on Canada and Mexico, with possible exceptions

• 10% on Chinese goods, plus planned expansion to other sectors   

These tariffs mark a dramatic escalation compared to his first term, targeting a much broader scope and magnitude .

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2. 🌍 Broader Economic Ripples

Trade and Growth:

• BBVA warns global GDP may fall by 0.5 pp, while trade could contract by 2 pp over two years .

• The World Bank projects U.S. growth halving—from 2.8% to 1.4% in 2025 .

Inflation & Consumer Costs:

• Though inflation remains moderate (~2.4–2.8%), tariffs may gradually raise prices on goods like cars and canned food .

Corporate Reaction:

• Domestic manufacturers are seeing short-term growth and reshoring, but higher input costs squeeze downstream industries .

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3. ⚖️ Legal & International Pushback

• Courts have blocked enforcement, ruling Trump overstepped authority under IEEPA .

• Retaliatory tariffs from Canada, EU, Mexico, and China are already in motion, escalating the trade tension .

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4. 💥 Market Fallout (Including Crypto)

Stock & Commodities:

• U.S. equities dipped (~1.5–2.6%), and tech & automotive were hit hardest after the news .

• Copper and other commodities saw price surges amid import restrictions .

Crypto Reaction:

Crypto markets flash volatile signals:

• One Reddit summary noted,

“The crypto market lost $230 billion in value… Bitcoin fell below $92,000… Solana dropped 15%.”  

• Another described sharp liquidations:

“The tariffs … triggered one of the most colossal liquidation events…