Donald Trump has confirmed that tariffs on Mexico and Canada will take effect on March 4 if drug flows into the United States are not reduced. He also announced an additional 10% tariff on China, while a 25% tariff on the European Union remains set for April 2.

The cryptocurrency market reacted negatively to the news, with Bitcoin dropping again toward $85,000 after experiencing sharp declines over the past few days.

Donald Trump Confirms Tariff Timeline on Mexico, Canada, and China

US president Donald Trump has stated that the United States will move forward with tariffs on imports from Mexico and Canada unless measures are taken to curb drug trafficking, especially fentanyl. He emphasized the need to address the issue, calling the substances “dangerous and highly addictive poisons.”

He also confirmed that China will face an additional 10% tariff starting on the same date. “We cannot allow this scourge to continue,” Trump said, reiterating his stance on trade and national security. The reciprocal tariff on the European Union, set for April 2, remains unchanged.

Following Trump’s confirmation of the tariffs, Bitcoin price has experienced a decline, falling below $86,000 again. According to CoinMarketCap, Bitcoin price dropped by 0.51% to trade at $85,697, marking its fourth consecutive day of losses. The decline comes amid broader market concerns, with analysts warning of further corrections towards the $80K support before stability returns.

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The post Just In: Donald Trump Clarifies Start Date For Tariffs on Mexico & Canada, Bitcoin To $80K? appeared first on CoinGape.

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Filed under: News - @ February 27, 2025 2:24 pm