$BTC Bitcoin (BTC) lost price support levels over the weekend. The world's largest cryptocurrencies are reacting to US President Donald Trump's "tariff" against its main trading partners.

As a result, bitcoin has fallen by more than 13% in recent days, and ethereum (ETH) has also lost important price levels. The market, however, reduced its decline throughout the morning of this Monday (3).

On Saturday (1), Trump confirmed the imposition of 25% tariffs on products from Canada and Mexico, in addition to taxing imports from China by 10%. According to the president, the next region to suffer from the measure is the European Union.

Countries neighboring the US have already reacted — Canadian Prime Minister Justin Trudeau announced 25% tariffs on US$155 billion worth of American products and Mexican President Claudia Sheinbaum has also promised to implement tariffs on the US — but the market fears the long-term side effects of these measures.

This is because the imposition of international tariffs could increase global inflation, requiring international monetary authorities to raise interest rates across the board. In addition to the economic paralysis, the reduction in global liquidity is affecting risk assets, such as stock markets and cryptocurrencies.

In response, China has already stated that it intends to appeal to the World Trade Organization (WTO).