Canada-US Trade War Escalates as Tariffs Bite Crypto Market

Canada has implemented retaliatory tariffs on US products worth $27.6 billion in response to the Trump administration's decision to impose 50% tariffs on $20 billion worth of Canadian goods.

The tariffs, which range from 15% to 50%, cover a wide range of US imports, including steel, aluminum, electronics, and household goods. Prime Minister Mark Carney stated that Canada is ready to negotiate a trade deal with the US when they are willing to do so.

The escalating trade tensions between the US and Canada have had a significant impact on the crypto market, with major assets like Bitcoin experiencing a notable downturn. BTC has fallen from above $80,000 to around $78,868 in the past 24 hours, a decline of about 1%.