Trump Imposes 50% Tariff on Canadian Steel and Aluminum Starting March 12
Trump has announced new tariffs on Canadian steel and aluminum.
- 50% tariff set to take effect on March 12.
- Economic instability may lead to further bearish trends in the crypto market.
- Previous tariffs have historically resulted in price drops for cryptocurrencies.
- Uncertainty about enforcement raises concerns among investors.
- Broader financial outlook remains grim, with high liquidation rates in crypto.
- Potential for Trump to reverse these tariffs exists, which could mitigate damage.
The ongoing trade battle impacts both U.S. and Canadian economies, exacerbating political tensions. The true effect of these tariffs on the crypto market will depend on their enforcement and investor sentiment over the coming days.