*"Trump's new tariffs: Who is the biggest loser starting August 7?"*
"As a trade escalation: Trump imposes tariffs on 69 countries"
President Donald Trump has imposed new tariffs on 69 countries, causing fluctuations in the stock markets and the cryptocurrency market. Here are the key details:
*New tariffs:*
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*Affected countries:* European Union, Japan, South Korea (15%), United Kingdom (10%), Taiwan, India, South Africa, and Algeria (20-30%), Switzerland, Canada (outside the USMCA agreement), Serbia (35-39%), Brazil (50%), Turkey (15%).
- *Delay in implementation:* The tariffs will take effect starting August 7, 2025, with a limited postponement of the implementation date.
*Impact of tariffs on markets:*
- *Stock markets decline:* The S&P 500 and Nasdaq indexes dropped by nearly 1%, and the European STOXX 600 index lost between 1.3% to 1.5%.
- *Impact on cryptocurrencies:* The total market capitalization of cryptocurrencies fell by 7.2% in less than 24 hours, with Bitcoin down by 2.5%, and Ethereum, Solana, XRP, and Dogecoin by 5-8%.
*What does this decision mean?*
- *Restructuring the trade balance:* The Trump administration aims to restructure the trade balance through strict unilateral measures.
- *Impact on markets:* Global markets have become hostage to political tensions, and any trade decision from the largest economy in the world could shuffle the cards in seconds.
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