In response to ongoing trade tensions, President Donald Trump has increased the global tariff rate from 10% to 15%, effective immediately. This decision, announced on Saturday, follows his previous imposition of tariffs on Friday, which were meant to address longstanding trade imbalances with other countries.
Trump expressed his frustration regarding a recent Supreme Court ruling that limited his authority to impose tariffs under the International Emergency Economic Powers Act. In a statement on Truth Social, he emphasized his commitment to protecting U.S. economic interests.
Despite the turmoil these tariff announcements typically cause in financial markets, the crypto market showed resilience. Bitcoin's price remained stable around $68,000, with negligible changes observed in other major cryptocurrencies. The overall market capitalization, tracked by the Total3 indicator, experienced a minor decline of less than 1%, standing at approximately $713 billion.