Part 3/7:
The triggering event for this market turmoil is well-documented: on April 2nd, the U.S. announced the enforcement of reciprocal tariffs against countries imposing tariffs on American imports. President Trump noted the U.S. would apply discounted tariffs as a show of goodwill, although the international repercussions have been anything but peaceful.
For instance, China retaliates with a proposed 67% tax on American products, while other regions like the European Union, Vietnam, and Taiwan intend to impose similar levies. This has caused considerable upheaval in global markets, not just in crypto but in stock markets too—where companies like Apple and Tesla are seeing declines of 99% and 5.5%, respectively.