Cryptocurrency and equities markets entered a “new phase of the trade war, amid ongoing tariff escalations between the United States and China.
Global trade war concerns intensified on April 15 after the White House published a fact sheet announcing that Chinese imports would be hit with tariffs of up to 245%.
The penalties include a “125% reciprocal tariff, a 20% tariff to address the fentanyl crisis, and Section 301 tariffs on specific goods, between 7.5% and 100%,” according to the White House.
Fact sheet on tariffs, investigation into security risks posed by US reliance on imports. Source: White House
Crypto, tech stocks and other “expensive assets” have entered a “new phase” of the global trade war in response to the latest escalation, according to Aurelie Barthere, principal research analyst at crypto intelligence platform Nansen.
“We are now in a new