CoinDesk Podcast Network COINDESK DAILY: China Strikes Back With 125% Tariffs on U.S. Goods
Apr 11, 2025
China's bold move to impose 125% tariffs on U.S. imports shakes up the trade landscape. The rising tensions spark debates about their impact on the financial market, including a surge in Bitcoin prices. Meanwhile, a significant legislative shift occurs as a U.S. president signs a crypto bill into law, overturning a previous anti-DeFi IRS rule. Additionally, intriguing rumors swirl around the Trump family-backed World Liberty Financial and its alleged ether sale. Tune in for a fascinating exploration of these developments!
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China's Tariffs and Crypto Rise
- China increased tariffs on U.S. goods from 84% to 125%, escalating trade tensions further.
- This action coincided with a drop in the U.S. dollar index and a rise in Bitcoin over $82,000, showing crypto's hedge appeal.
Trump's Trade and Crypto Moves
- U.S. raised tariffs on Chinese goods from 125% to 145%, continuing trade escalation.
- President Trump signed a crypto bill overturning an IRS anti-DeFi rule, marking a pro-crypto legislative win.
DeFi Rule Repeal Spurs Innovation
- The repeal of the IRS DeFi rule received strong bipartisan support and is seen as a boost to crypto innovation.
- Stablecoin legislation is the next anticipated focus in crypto policy by Congress.