U.S. Canada relations Archives - Coin Engineer https://coinengineer.net/blog/tag/u-s-canada-relations/ Btc, Coins, Pre-Sale, DeFi, NFT Tue, 11 Mar 2025 14:52:38 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png U.S. Canada relations Archives - Coin Engineer https://coinengineer.net/blog/tag/u-s-canada-relations/ 32 32 Trump Increases Tariffs on Canadian Steel and Aluminum to 50% https://coinengineer.net/blog/trump-increases-tariffs-on-canadian-steel-and-aluminum-to-50/ https://coinengineer.net/blog/trump-increases-tariffs-on-canadian-steel-and-aluminum-to-50/#respond Tue, 11 Mar 2025 14:52:38 +0000 https://coinengineer.net/blog/?p=38241 President Donald Trump announced that the tariffs on steel and aluminum products imported from Canada will be increased to 50%. The decision was made after the Ontario province imposed a tax on electricity exported to the U.S. Trump stated on social media, “This decision will take effect tomorrow morning, March 12.” With this move, the

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]]> President Donald Trump announced that the tariffs on steel and aluminum products imported from Canada will be increased to 50%. The decision was made after the Ontario province imposed a tax on electricity exported to the U.S. Trump stated on social media, “This decision will take effect tomorrow morning, March 12.”

With this move, the previous 25% tariff will be doubled, resulting in a new 50% tariff on Canadian-made steel and aluminum products. This decision could escalate the trade war between the U.S. and Canada, with its immediate impact already being felt in the markets.

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Bitcoin Sees Sharp Drop

After Trump’s announcement of the tariff increase, risk appetite in the markets declined, and Bitcoin (BTC) saw a sharp pullback. The price of Bitcoin dropped by 2.5% during the day, falling to $80,631. Experts note that trade wars could put pressure on global economic growth, which in turn increases the selling pressure on risky assets.

Bitcoin
BTC/USD 3 minute chart.

Geopolitical and economic uncertainties are continuing to affect the cryptocurrency markets. Bitcoin‘s price volatility is expected to continue in the coming days.

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