Here is the English translation: The stock market and the crypto market have both witnessed a deep decline in the past few hours as U.S. President Donald Trump has confirmed that he will maintain the decision to impose tariffs on Canada and Mexico. Fluctuations in the prices of major cryptocurrencies at 08:40 AM on February 25, 2025. Image: Coin360 In a press conference after a meeting with French President Emmanuel Macron at the White House, newly elected U.S. President Donald Trump announced that he will maintain the timeline for imposing import tariffs on goods from the two neighboring countries Canada and Mexico at the beginning of March. Trump to proceed with Tarrifs on Mexico and Canada! pic.twitter.com/2KPxzpNwaQ — DramaAlert (@DramaAlert) February 24, 2025 As reported by Coin68 in early February, Mr. Trump had signed an executive order to impose a 25% tariff on imported goods from Canada and Mexico, but later temporarily postponed it for a month after reaching an agreement with the leaders of these two countries. The U.S. also imposed a 25% tariff on all imported steel and aluminum products. In retaliation, Canada and Mexico have taken similar retaliatory measures, while China has announced a 10-15% tariff on U.S. crude oil, agricultural equipment, some automobiles, coal, and liquefied natural gas (LNG). The cryptocurrency market was then hit hard, with Bitcoin plummeting to $91,300, with over $2 billion in derivatives positions being liquidated, making it the worst liquidation day in history - although some experts estimate the actual figure could be as high as $8-10 billion. By the morning of February 25, the downward trend continued after Mr. Trump's reaffirmation of the trade war. According to statistics, the leading U.S. stock indices all fell sharply in the trading session on 24/02, led by the technology stock group. Performance today: S&P 500: -0.50% Nasdaq: -1.21% pic.twitter.com/BXafzZCCxr — Brew Markets (@brewmarkets) February 24, 2025 Similarly, the price of Bit reached as low as $90,900 - the lowest level since the dump on January 13. Fluctuations in the Bit price over the past 7 days, screenshot from CoinGecko at 08:30 AM on February 25, 2025 The altcoin sector fell even more disastrously, with ETH dropping 10% to $2,460, SOL declining 15% to $138, and other major altcoins adjusting by 10-20%. While ETH has exhausted its buying power as the Bybit exchange has announced that it has covered the $1.46 billion loss from the hack of 500,000 ETH last week, SOL is about to face a large unlocking period from FTX. The only green color at the moment is IP, the token of the newly launched Story Protocol blockchain, which is focused on intellectual property rights. Fluctuations in the prices of top altcoins at 08:30 AM on February 25, 2025. Source: CryptoBubbles The amount of derivative positions liquidated in the past 12 hours reached nearly $770 million, with the long side accounting for 94%. Liquidation data in the crypto derivatives market, screenshot from CoinGlass at 08:30 AM on February 25, 2025 Coin68 summary