The United States government has officially confirmed that the long-awaited import tariffs announced by former President Donald Trump will come into effect starting tomorrow (March 4). The tariffs are set to impact various sectors, including steel, aluminum, and technology goods, potentially disrupting global trade.
However, there is still uncertainty surrounding the exact rate of the tariffs. US Commerce Secretary Howard Lutnick stated that the final decision on whether the tariffs will be implemented at the proposed 25% rate or at a lower percentage will be made directly by President Trump.
Global Market Reaction
The announcement has left Asian stock markets trading flat, with investors taking a cautious approach.
- Nikkei 225 was down by 0.4% in early trading.
- Hang Seng Index traded marginally higher by 0.2%.
- India’s Sensex and Nifty 50 opened flat amid mixed global cues.
Bitcoin Hits All-Time High Amid Uncertainty
While stock markets remained muted, the cryptocurrency market is witnessing a massive rally.
Bitcoin, the world’s largest cryptocurrency by market capitalization, surged over 11% in the last 24 hours to touch a new all-time high of $94,110.
Meanwhile, the second-largest cryptocurrency Ether (ETH) jumped 14% to trade at $2,528, driven by growing investor interest in decentralized finance (DeFi) and upcoming blockchain upgrades.
Other popular cryptocurrencies like Solana (SOL) and Ripple (XRP) have also posted significant gains, rising 8% and 6% respectively.
Why is Bitcoin Rising?
Experts believe the sharp rise in Bitcoin is fueled by:
- Uncertainty in global markets due to US tariff policies.
- Increased institutional investment in cryptocurrencies.
- Growing demand for Bitcoin ETFs in the US.
- Rising inflation concerns across major economies.
Key Takeaways:
- US tariffs to come into effect from March 4, with rates still undecided.
- Asian stock markets remain flat due to global economic uncertainty.
- Bitcoin hits a new record high of $94,110, surging 11% in 24 hours.
- Ether climbs 14% amid strong demand in the crypto market.
- Investors shifting focus to cryptocurrencies as a hedge against inflation.
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