Share this article
President Trump to Order 'Reciprocal Tariffs' to Begin This Week
Bitcoin retreated to $86,000 in volatile action as the announcements were made.
Updated Apr 2, 2025, 9:52 p.m. Published Apr 2, 2025, 8:26 p.m.
What to know:
- President Donald Trump will sign an order for "reciprocal tariffs" to begin at midnight, he said Wednesday during a Rose Garden address.
- There will be a 25% tariff on all foreign autos, while China faces a 34% levy and the European Union 20%.
- Bitcoin is volatile, but currently down about 1% from just ahead of the announcements.
In a Rose Garden ceremony on Wednesday, U.S. President Donald Trump said he intends to immediately sign an order for "reciprocal tariffs" to be levied against U.S. trading partners.
"Our country and its taxpayers have been ripped off for more than 50 years but it’s not going to happen anymore," said Trump, adding that some of the tariffs will begin at midnight.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The first specific tariff announced at the ceremony was a 25% levy on all foreign-made autos, starting midnight on Thursday, April 3.
The U.S. will impose an across-the-board tariff rate of 10%, which will be in effect on midnight on April 5.
Among country-specific tariffs: China will see a rate of 34%, Vietnam 46%, Taiwan 32% South Korea 25%, European Union 20%, Switzerland 31%. According to a White House fact sheet, these country-specific tariffs will start at midnight on April 9.
The price of bitcoin initially rose in the ceremony's early stages, but began to give ground as the tariffs were detailed. The price has retreated to $86,000, down about 1% from prior to the announcements.
U.S. stock index futures are plunging, with the Nasdaq 100 lower by 2.3% and the S&P 500 by 1.7%. Gold, meanwhile, shot higher to a new record high just below $3,200 per ounce.
UPDATE (March 2, 2025, 21:50 UTC): Adds details about tariff implementation dates.
Mais para você
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
O que saber:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Bitcoin slips below $88,000 as traders brace for $28.5 billion Deribit options expiry
Crypto continues to lose ground ahead of this week's record options expiration, while defensive positioning and thinning liquidity suggest caution into 2026.
What to know:
- Bitcoin and crypto prices moved steadily lower in U.S. Monday afternoon trading.
- Over $28.5 billion in bitcoin and ether options are set to expire Friday on derivatives exchange Deribit, the largest expiry in its history.
Top Stories
