U.S.-China Trade War Intensifies, Sending Shockwaves Through Markets

The latest tariff escalations are rattling global markets, with stocks and cryptocurrencies feeling the impact.

Key Developments:

• China retaliated against U.S. tariff hikes by imposing a 15% tax on wheat, corn, cotton, and chicken imports, along with a 10% duty on sorghum, soybeans, pork, beef, seafood, fruits, and vegetables. These tariffs take effect March 10.
• The move follows President Trump’s decision to double tariffs on Chinese goods to 20% while also confirming 25% tariffs on imports from Mexico and Canada, effective Tuesday.
• The uncertainty has led to a broad risk-off sentiment in financial markets. Bitcoin (BTC) has slipped 2% to $84,200, according to CoinDesk and TradingView data.

As tensions mount, investors are bracing for further market volatility.