Trump Announces 12.5% Tariffs Amid Bitcoin Price Drop

The Trump administration has announced new global tariffs of up to 12.5% that will take effect just after midnight ET on Friday, replacing temporary 10% tariffs for all countries.

The new tariffs are aimed at dozens of countries over allegations of forced labor. This move may have implications for various industries and economies worldwide.

Bitcoin has extended its decline as a result of this announcement, which may be due to concerns about the potential impact on global trade and economic uncertainty.