Major cryptocurrencies, excluding XRP, registered moderate losses as President Donald Trump announced fresh tariffs on imports from Mexico and the European Union (EU).
The President slapped 30% levy on the two trading partners, which will take effect from Aug. 1, according to letters Trump posted on his Truth Social account.
“Mexico has been helping me secure the border. BUT, what Mexico has done, is not enough,” Trump wrote in a letter to Mexican President Claudia Sheinbaum. In another letter to European Commission President Ursula von der Leyen, Trump called the relationship with the EU far from reciprocal.
Early this week, Trump issued new tariffs for several countries, including South Korea, Japan, Canada and Brazil, along with a 50% tariff on copper, triggering volatility in the market for the red metal.
Bitcoin
, the leading cryptocurrency by market value, traded around $17,400 following Trump’s announcement, down 0.6% from the…
