Trump Increases Global Tariff Rate to 15%, Crypto Markets Remain Stable
- President Trump raised the global tariff rate from 10% to 15%, effective immediately.
- The new tariffs are based on the Trade Expansion Act of 1962 and the Trade Act of 1974.
- Pro-crypto attorney Adam Cochran noted that Trump’s authority to impose tariffs is limited to countries with trade deficits for a maximum of 150 days.
- Despite previous market turmoil, Bitcoin (BTC) price remained stable around $68,000 following the announcement.
- The Total3 indicator, tracking crypto market cap excluding Bitcoin and Ethereum, fell by less than 1%, holding at approximately $713 billion.
Trump’s tariff increase comes amid criticism regarding his legal authority to do so, as it may only apply under specific conditions and for limited durations. The crypto market has shown resilience in light of these announcements, maintaining stability despite past volatility associated with such measures.
As Bitcoin remains steady at $68,000, the crypto sector appears unaffected by recent tariff changes aimed at international trade relations.Source
