Trade War
Trump signs 10% global tariff after supreme court blocks previous measures
Raportoinut AI AI:n luoma kuva
US President Donald Trump signed a decree on Friday (20) imposing a 10% tariff on imports from all countries, responding to the Supreme Court's ruling that previous tariffs under the IEEPA law were illegal. The new measure takes effect on February 24 and lasts 150 days, exempting items like beef, oranges, and critical minerals. For Brazil, the global rate improves competitiveness compared to prior reciprocal tariffs of up to 50%.
The United States and China are intensifying a legal arms race with competing sanctions and regulations that trap global firms in conflicting compliance demands. This development comes amid US President Donald Trump’s visit to China and ongoing disruptions from the US-Iran war.
Raportoinut AI
A Cheong Wa Dae official said South Korea will carefully assess the impact of the Trump administration's decision to raise tariffs on EU autos and trucks to 25% and respond accordingly. The move has drawn attention in Seoul due to South Korea's similar tariff deal with the US. The government plans to communicate closely with Washington to maintain stable trade relations.
Cryptocurrencies experienced a sharp flash crash over the weekend following President Donald Trump's threats of new tariffs on Chinese imports, erasing billions in market value. Bitcoin dropped from highs near $126,000 to below $105,000, while other assets like Ethereum and Dogecoin saw even steeper declines. The event highlighted the sector's volatility amid leveraged trading and global trade tensions.
Raportoinut AI
President Donald Trump's announcement of 100% tariffs on Chinese imports sparked the largest cryptocurrency liquidation in history, wiping out $19 billion in leveraged positions. Bitcoin plunged to $104,000, while Ethereum and Solana saw drops of over 14% and 20%, respectively. The sell-off rippled through global markets, with major US stock indices recording their steepest declines in months.