Trump predicts the earliest announcement of steel and semiconductor tariffs next week! Bitcoin falls below $118,000, Ethereum loses $4,600

According to the latest report from Reuters, U.S. President Trump revealed that he plans to impose tariffs on steel and semiconductor chips in the coming weeks. (Background: The U.S. July CPI report was released showing 'prices at a new high in June', Trump pressured Powell: tariffs did not exacerbate inflation, Fed to cut rates in September) (Additional context: U.S. July PPI exploded) Bitcoin needle at $117,000, Trump tariffs sound the inflation alarm, will the Fed still cut rates in September?) U.S. President Trump has announced a new tariff plan aimed directly at the steel and semiconductor chip industries. According to the latest report from Reuters, U.S. President Trump revealed that he plans to impose tariffs on steel and semiconductor chips in the coming weeks. The report noted that Trump, while en route to meet with Russian President Putin in Alaska aboard Air Force One, told reporters: 'I will announce tariffs on steel and chips next week or the week after.' He explained that the initial tariff rates would be relatively low, aimed at giving companies time to establish manufacturing in the U.S. and increase domestic production capacity, but afterwards, the tariffs would rise significantly. He stated: 'Initially, the rates will be lower so that companies have the opportunity to build factories in the U.S., but after a while, the rates will become very high!' Trump emphasized that this model is similar to the previous tariff plan set for pharmaceuticals, but specific rates have yet to be announced. We know that Trump raised the import tariffs on steel and aluminum to 25% in February this year and announced a doubling to 50% in May, with the aim of reviving U.S. domestic manufacturing. However, it is still unclear whether the steel tariffs mentioned this time would mean further increases. Additionally, Trump just indicated last week that he plans to impose tariffs of up to 100% on semiconductor imports, but promised that companies willing to invest in building factories in the U.S. would be able to receive tariff exemptions. Bitcoin fell below $118,000 as a result. Affected by this, Bitcoin rapidly declined around 21:30 today (15th), hitting a low of $117,733, with a drop of 0.42% over the past 24 hours. Ethereum also fell below $4,600, reporting at $4,547 at the time of writing, with a drop of 1.52% in the past 24 hours. Related reports: Trump predicts an 'important statement' will be issued at 12:00 AM on August 7, are semiconductor tariffs coming? Trump quickly ends the Thailand-Cambodia conflict with a '36% tariff stick', Bitcoin returns to $118,000. Trump tariffs profit? U.S. tariff revenue skyrocketed to $87.2 billion in the first half of the year, quadrupling in June, projected to reach $300 billion for the year. 'Trump predicts the earliest announcement of steel and semiconductor tariffs next week! Bitcoin falls below $118,000, Ethereum loses $4,600.' This article was originally published by BlockTempo (the most influential blockchain news media).