U.S. tariffs have gone completely insane! Data from Yale University reveals a shocking average effective tariff rate of 18.6%, hitting a historical peak not seen since the Great Depression of 1933! The rate, which was hovering around 2% at the beginning of the year, has now surged to a trade-weighted tariff rate of 20.11%, with a simple average tariff rate rising to 17.39%. The affected global trade volume has skyrocketed from $288.4 billion to $2.747 trillion—a nearly 10-fold increase!

This set of protectionist measures is clearly taking a hard stance against the global trade system. Soaring tariffs mean exploding costs for businesses, ultimately passed on to consumers, effectively strangling the economic cycle. Worse yet, a tariff war will only exacerbate global economic friction, fully ramping up uncertainty. For the cryptocurrency market, the worse the macro environment, the harder it is for risk assets to breathe—when funds seek safety, the crypto market is never immune to chain reactions. The U.S. is stubbornly trying to apply an old script from the Great Depression to reality, and both global trade and financial markets must bear this heavy blow. Can the crypto sector remain unscathed? Not a chance.