Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Trump’s Tariffs on Canada, Mexico, and China Take Effect, Reason Behind the Latest Market Dump?

Trump’s Tariffs on Canada, Mexico, and China Take Effect, Reason Behind the Latest Market Dump?

CryptonewslandCryptonewsland2025/03/04 11:55
By:by Nicole D'souza
  • Trump’s 25% tariff on Canada and Mexico take effect.
  • The President’s 20% tariff on China also comes into effect on the same day.
  • Could this be the reason behind the latest market dump?

The crypto market dumped back to the same prices as before the pump caused by Trump’s bullish US Strategic Crypto Reserve announcement. This has led many analysts and respected members of the crypto community to accuse Trump of market manipulation. However, the reason behind the latest market dump could be due to Trump’s tariffs taking effect.  

Reason Behind the Latest Market Dump

JUST IN: President Trump's 25% tariffs on Canada and Mexico, along with 20% tariffs on China officially take effect. pic.twitter.com/MmI9UjXhTS

— Watcher.Guru (@WatcherGuru) March 4, 2025

In detail, Trump’s promised tariffs on certain countries have finally come into effect today. In particular, the President has placed a 25% tariff on Canada and Mexico, and a 20% tariff on China. This means that all imports and exports to these locations will have to pay a significant tax as placed by Trump’s new policy.   

Is Trump Making Change or Making Manipulations?

#Bitcoin ⏳

Last week didn’t teach you to wait at least for the weekly candle to close?

Trump is hosting a #Crypto Summit at the White House next Friday. Let’s wait for that before jumping to conclusions. 🫡

— Titan of Crypto (@Washigorira) March 3, 2025

While many believe the latest crypto dump came following the thrilling pump action in the crypto market over the last 24 hours, caused by Trump’s Strategic Crypto Reserve announcement, to be a market manipulation from Trump, this dump could simply be the aftermath of the tariffs coming into effect. 

Certainly, these statements are still up for speculation and investigation. However, none can deny that Trump has promised to be America’s first crypto President and has taken many measures to support responsible growth of digital assets across all sectors of its economy. Furthermore, he is hosting a Crypto Summit at the White House very soon, perhaps the price of Bitcoin will pump again, maybe this time without a dump following suit? 

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Franklin Templeton says Solana’s DeFi rise presents a threat to Ethereum

Share link:In this post: A Franklin Templeton report suggested that Solana threatened Ethereum due to its growing influence. Solana’s DEX volumes surpassed the Ethereum ecosystem in January, highlighting a potential market shift. According to the report, the shift to activity to the layer two blockchain shows the Ethereum scaling approach was working.

Cryptopolitan2025/03/06 18:55