CoinDesk Podcast Network
COINDESK DAILY: Trump Slaps 145% Tariffs Against China, Bitcoin Tumbles
Apr 10, 2025
The podcast dives into the chaos caused by President Trump's staggering 145% tariffs on China, triggering a significant plunge in Bitcoin prices. Discussion shifts to the appointment of Paul Atkins as the new chairman of the SEC, raising hopes for a more crypto-friendly regulatory environment. Additionally, Pakistan's ambitious plan to leverage 10,000 megawatts of surplus energy for Bitcoin mining showcases innovative strategies in the global crypto landscape.
02:28
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Quick takeaways
- The 145% tariff hike by President Trump significantly influenced the stock market, contrasting with Bitcoin's potential long-term benefits amid trade tensions.
- Paul Atkins' appointment as SEC chairman may shift regulatory policies towards a more crypto-friendly approach, enhancing the environment for digital assets.
Deep dives
Market Reactions to Tariff Changes
The recent hike in tariffs against China to 145% by President Trump has significantly impacted the U.S. stock market, which saw a drop of 5-6% during the New York trading session. In contrast, European and Asian stock markets experienced gains as they reacted to the changes. Interestingly, while traditional markets falter, the potential for long-term benefits for Bitcoin adoption is being discussed. Grayscale suggests that heightened trade tensions may lead to stagflation, ultimately favoring scarce assets like Bitcoin and gold, as investors seek reliable alternatives amidst economic uncertainty.
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