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CoinDesk Podcast Network

MARKETS DAILY: Crypto Update | Will Trump's Tariffs Tank the Crypto Markets?

Feb 26, 2025
James Van Straten, a Senior Editorial Analyst at CoinDesk, provides keen insights into the toll U.S. import tariffs on Canada and Mexico could take on the cryptocurrency markets. He discusses how these tariffs may trigger economic turbulence, drawing parallels to the pandemic's financial shock. The conversation delves into the current struggles of Bitcoin amid bearish trends and the complex relationship between investor sentiment and geopolitical factors. Overall, it’s a thought-provoking analysis of how global events push and pull the crypto landscape.
10:10

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Quick takeaways

  • The imposition of tariffs by the U.S. on Canada and Mexico is expected to escalate trade tensions, significantly impacting economic relationships and market stability.
  • Volatility in the cryptocurrency market, particularly Bitcoin, is influenced by broader economic factors, including tariffs, inflation, and geopolitical uncertainties.

Deep dives

Impact of Tariffs on Economic Relationships

The recent announcement of tariffs against Canada and Mexico is set to significantly affect the economic relationships among the three countries. The tariffs, which include a 25% charge on products and 10% duties on energy from Canada, aim to address issues such as illegal immigration and drug trafficking. However, both Canada and Mexico swiftly retaliated with their own tariffs on American goods, escalating trade tensions. Experts warn that these tariffs could harm all three economies, jeopardizing supply chain security and resulting in long-term strategic consequences, particularly in the context of competition with China.

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