Trump's New Tariffs Spark Global Trade Tensions

U.S. President Donald Trump has announced plans to impose a new round of tariffs on imported goods, including cars, semiconductor chips, and drugs. The proposed tariffs, which could reach as high as 25%, are set to take effect as early as April 2nd. Trump also hinted that the tariffs on semiconductors and drugs may be further increased within a year, giving companies time to relocate production to the U.S. to avoid the tariff impact.

This move has the potential to escalate the ongoing trade war, with major U.S. trading partners likely to retaliate by raising tariffs of their own. The reshaping of the global supply chain could have significant implications for the international economy. Currently, the U.S. has already imposed 25% import tariffs on steel and aluminum, with the deadline for Canada and Mexico set for March 4th.

In response to the news, the market turbulence fear index fell to 44, indicating a heightened level of uncertainty and anxiety among investors. The price of Bitcoin also experienced a brief dip, reaching a new low of $93,300 before rebounding to $95,400. Analysts believe that Bitcoin is still consolidating at a high level, with short-term support and resistance ranges of $92,500 to $91,800 and $100,500 to $99,800, respectively. If Bitcoin breaks through the short-term resistance range, it is likely to stabilize above the six-figure mark.