Crypto crash is happening amid Trump tariff blitz
Bitcoin and altcoins are under pressure as market participants react to the escalating trade war between the U.S. and other countries. President Donald Trump imposed a 25% tariff on India, 30% on South Africa, and 39% on most goods imported from Switzerland.
While the U.S. has signed trade deals with countries like Japan, the European Union, and the U.K., steep tariffs remain in place. The implication is that U.S. inflation may stay elevated for longer, complicating the Federal Reserve’s path to cutting interest rates.
The Fed held interest rates steady between 2.25% and 2.50% this week, with officials reaffirming their data-dependent stance. This suggests the central bank may not cut rates this year, contrary to many analysts’ expectations.
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