China imposes 34% duty on all US goods. Bitcoin falls to $83,000
Author: Omkar Godbole | Edited by: Oliver Knight Updated: Apr 4, 2025 11:18 AM Published: Apr 4, 2025 10:40 AM
Risk sentiment worsened in European trade on Friday after China announced retaliatory tariffs on all goods in response to Trump’s decision on Wednesday to raise overall tariffs on Chinese goods to 54%.
Bitcoin, the leading cryptocurrency by market cap, fell $1,600 to $83,000, erasing an early rally to $84,600, according to CoinDesk. Other tokens like XRP, ETH, SOL, and DOGE also pulled back from their early gains and were largely flat throughout the day.
Meanwhile, S&P 500 and Nasdaq futures fell more than 2% amid escalating global trade tensions.
“China’s response is not only bad for the U.S. but also for the global outlook,” ForexLive analyst Justin Lowe said in his market report.
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