Trump launches another tariff war! US stocks still faced selling pressure on Tuesday, with the S&P 500 and Dow Jones Index recovering slightly. Bit rose back to 82K, while Ethereum is currently hovering around $1,800.
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ToggleUS-Canada trade conflict escalates, Canada makes concessions to gain negotiation opportunities
US President Donald Trump announced that starting Wednesday (3/12), a 25% tariff will be imposed on all imported steel and aluminum, and the tariff rate on steel and aluminum imports from Canada will be doubled to 50% to retaliate against Ontario, Canada's 25% additional tax on electricity exports to the US.
However, the Canadian government has chosen to concede. After a meeting between Ontario Premier Doug Ford and US Commerce Secretary Howard Lutnick, it was decided to temporarily suspend the 25% additional tax on electricity exports to the US, in exchange for the opportunity for subsequent negotiations with the Trump team. Ford will travel to the White House on Thursday to discuss solutions to the tariff issue with US officials.
Ukraine agrees to a 30-day ceasefire, US stocks rebound slightly
Amidst the global market turmoil due to the tariff issue, the US State Department also issued a statement announcing that Ukraine has accepted the US proposal and agreed to a 30-day ceasefire, and the US has agreed to resume intelligence sharing and military assistance with Ukraine. In addition, the two sides also agreed to reach an agreement on the development of critical minerals as soon as possible.
After the news was released, it slightly boosted market sentiment, with the S&P 500 and Dow Jones Index recovering slightly from their intraday lows. However, the overall market remains in a highly uncertain environment.
Bit rebounds slightly to 82K, Ethereum is in a sorry state
Cryptocurrencies remain in a state of stagnation, but Bit (BTC) has rebounded slightly from 76K to 82K. As for Ethereum (ETH), after falling below $2,000 yesterday, it is still languishing, with the current price still hovering between $1,800 and $1,880. The Crypto Fear & Greed Index is currently at 26.
(Bitcoin faces the 80K defense, does Michale Saylor hint at buying the dips?)
Risk Warning
Cryptocurrency investment is highly risky, and its price may fluctuate dramatically, and you may lose your entire principal. Please carefully evaluate the risks.
