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**China Strikes Back: Imposes 15% Tariffs on Certain US Products**
In response to the United States’ recent announcement of a 10% tariff on Chinese products, China has taken retaliatory measures by imposing a 15% tariff on certain American goods. The move comes as a surprise to many in the financial community, who had expected a more moderate response from Beijing.
The tariffs will affect a wide range of US-made products, including aircraft, automobiles, and even agricultural items. This development is likely to escalate the ongoing trade tensions between the two economic superpowers, with both sides refusing to back down.
Meanwhile, the global cryptocurrency market has reacted sharply to the news, with most major digital currencies falling in value. The top 10 cryptocurrencies, excluding stablecoins, all showed significant losses, with Dogecoin leading the pack with a 5.8% decline and XRP following closely behind with a 5.1% drop.
The commodities market has also been impacted, with natural gas prices plummeting by 2%, while crude oil fell by 1.74%. In contrast, copper prices surprisingly rose by 0.35%.
On the stock market front, the NASDAQ 100 futures contracts showed immediate reactions to the news, falling by 1.7% within the first hour of trading. While the losses were partially mitigated later in the day, the index still ended with a 1.2% decline.
The situation remains fluid and unpredictable, as both governments continue to engage in a game of tit-for-tat tariffs. The cryptocurrency market’s reaction is likely to be highly volatile in the coming days, so investors would do well to remain cautious and closely monitor market developments.
Stay tuned for further updates on this breaking story.
Source: http://www.bitcoinbazis.hu
