Ah, the Tariffs! Not merely a trifling matter of trade, but rather a grand spectacle, a veritable theatre of economic absurdity! It is not the tariffs themselves that send markets tumbling, but the delightful chaos they unleash upon the unsuspecting global economy. Tariffs, dear reader, are the puppeteers of inflation, interest rates, and the capricious whims of investors. ๐ญ
In this curious Dollar-Based Financial System, our dear Bitcoin finds itself shackled to the whims of the US dollar. Any tremor in the dollar’s strength or a mere whisper of interest rate changes sends BTC‘s purchasing power into a delightful spiral. The current tariff debacle is a veritable tempest, affecting not just crypto, but tech stocks and every major capital market. Who knew tariffs could be so entertaining? ๐
This report, a veritable treasure trove of economic insight, seeks to unravel the tangled web of tariffs, inflation, and their bearish impact on Bitcoin. Buckle up, dear reader, for a wild ride through the corridors of economic intrigue! ๐ข
Timeline of Trump Tariffs in February 2025
BLX price on February 1st, 2025 โ 93,512.46
BLX price on March 10th, 2025 โ 79,929.44
% price drop = -14.5%
Value price drop = -US$13,583
February 1, 2025: Broad Tariffs Announced
In a flourish of executive orders, President Trump imposed a 25% tariff on all goods from Canada and Mexico, with a cheeky 10% on Canadian energy products. And let us not forget the additional 10% on Chinese imports, a delightful cherry on top of this tariff sundae! ๐
The government, in its infinite wisdom, justified this move under the International Emergency Economic Powers Act, citing national emergencies related to illegal immigration and drug trafficking. Because, of course, tariffs are the answer to all of life’s problems! ๐
February 3, 2025: Temporary Suspension of Tariffs
In a plot twist worthy of a Shakespearean drama, the U.S. agreed to pause tariffs on Canada and Mexico for 30 days, after both countries promised to enhance border security. A classic case of “let’s make a deal!” ๐ค
February 10, 2025: Steel and Aluminum Tariffs
And just like that, 25% tariffs on steel and aluminum imports were announced, eliminating previous exemptions. These tariffs are set to take effect on March 12, 2025. What a delightful game of economic chess! โ๏ธ
February 25, 2025: Proposed EU Tariffs
President Trump, ever the provocateur, declared his intention to impose a 25% tariff on imports from the European Union, claiming the bloc was formed to disadvantage the U.S. Oh, the drama! ๐ญ
February 27, 2025: Increase in China Tariffs
In a bold move, tariffs on Chinese goods were doubled from 10% to 20%. Because why not escalate the situation further? ๐คทโโ๏ธ
March 4, 2025: Implementation of Tariffs
The tariffs officially took effect, prompting retaliatory tariffs from affected countries. A classic case of “you hit me, I hit back!” ๐ฅ
March 6, 2025: US delays tariffs on some imports from Canada and Mexico
In a moment of mercy, President Trump postponed tariffs for one month, affecting a significant portion of U.S. imports. A true act of diplomacy! ๐๏ธ
March 10th, 2025: Trump warns of a โperiod of transitionโ for the US economy, as markets react with a dramatic sell-off. The message is clear: short-term pain for long-term gain! ๐
BTC falls below US$80,000 as a result.
What are Tariffs and how is the Trump administration using them
A tariff, dear reader, is a tax imposed by a government on imported goods and services. A rather quaint notion, if
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2025-03-13 17:10