#CryptoTariffDrop The tariffs introduced by Donald Trump could significantly impact the balance of power in the global mining industry by reducing the competitiveness of the United States.
Analysts believe that the trade war initiated by Trump will have a major effect on the mining sector. The new tariffs also apply to the import of mining equipment into the U.S., making it much more expensive. The increased costs for American crypto miners could affect the global hash rate.
Hashlabs Mining CEO Jaran Mellerud noted that due to Trump’s new reciprocal tariffs, the cost of importing mining equipment into the U.S. will rise by at least 24%. This is critical for American miners, as 90% of the mining devices used by U.S.-based companies are manufactured in China and Southeast Asia.
Even under the existing 25% tariffs on Chinese equipment, manufacturers managed to bypass restrictions by relocating assembly to Malaysia, Thailand, and Singapore. However, the new tariffs will also affect these countries.
