Best Crypto To Buy The Dip As Altcoins Crash After Trump Tariffs Ignite Trade War
The crypto market plunged after US President Donald Trump slapped import tariffs on Canada, Mexico and China that spooked global investors. Trump imposed a long-threatened 25% tariff on almost all Canada and Mexico imports, as well as a 10% tariff on goods from China. These tariffs will come into effect on Feb. 4. They are expected to mark the beginning of a prolonged trade war and worsen global inflation. Market leaders Bitcoin (BTC) and Ethereum (ETH) plummeted over 5% and 18%, respectively, in the last 24 hours. The rest of the top 10 cryptos all suffered steep 24-hour losses as well. pic.twitter.com/SWZtSm6NMX — Donald J. Trump (@realDonaldTrump) February 1, 2025 The valuation of the altcoin market plunged more than 7%, according to TradingView data . Canada quickly related, its Prime Minister Justin Trudeau announcing that he will impose a 25% tariff on the $106.5 billion worth of US goods the country imports. China’s Ministry of Commerce said it ...