WASHINGTON (AP) — Former President Donald Trump announced a sweeping set of new import tariffs in a late-night social media post, claiming the measures will boost U.S. revenue and protect domestic industries.
The move, made shortly before midnight, imposes a 41% tariff on imports from Syria, 10% on goods from the United Kingdom, and a combined 50% rate on products from Brazil — including a 40% penalty tied to legal troubles of former Brazilian President Jair Bolsonaro. The European Union will be exempt from additional increases due to an existing trade agreement, leaving its products subject to a 15% rate.
Trump, writing in all capital letters, accused a “radical left” court of standing in the way of broader tariff powers. The court is currently reviewing whether he has the legal authority to implement the “reciprocal” tariffs without congressional approval.
Governments in affected countries moved quickly Friday to open negotiations with Washington, warning that the tariffs could disrupt trade, reduce foreign investment, and threaten jobs.
Potential Impact on Cryptocurrency
Financial markets reacted sharply to the announcement, with analysts noting that uncertainty over global trade could benefit digital assets such as Bitcoin. Rising import costs and inflation concerns may prompt investors to seek alternatives to traditional currencies, particularly in times of geopolitical tension.
“Periods of economic and policy instability often drive interest in decentralized assets,” said one market strategist. “Crypto offers a degree of independence from central banks and government policy.”
The White House did not immediately respond to requests for comment on the potential market impact of the tariffs
