Trump announced a bunch of new tariffs: 20% for the EU, 34% for China, 46% for Vietnam, 10% for Turkey, 24% for Japan, 32% for Taiwan, 31% for Switzerland, and 17% for Israel.
At the same time, the price of Bitcoin is dropping like a roller coaster, falling from 88,500 to 82,100, a decrease of over 7%, causing an uproar in the market.
As soon as I see these numbers, I feel overwhelmed. China 34%, Vietnam 46%, isn't this obviously targeting major manufacturing countries?
Especially Vietnam, which has finally managed to secure some foreign trade orders over the past few years; now it seems they are going to suffer.
24% for Japan and 32% for Taiwan, I'm wondering if I'll have to pay more for Japanese cars or electronic products in the future.
20% for the EU sounds okay, but Europe’s economy has been struggling, and this time it’s going to be even tougher.
31% for Switzerland is too harsh, watch enthusiasts are probably heartbroken. 10% for Turkey and 17% for Israel seem light, like they left some face in this chaotic situation.
Why is Bitcoin dropping again? I guess it might be because everyone got scared seeing the trade war about to start and quickly withdrew their investments. Some friends say it's an overreaction from the market, what do you think?
