Bitcoin Sees Surge Amidst Global Trade Tensions: Could It Be a Safe Haven?

As escalating U.S.-China trade tensions create uncertainty globally, Bitcoin has shown signs of increased strength, prompting questions about its potential as a safe-haven asset. A recent tariff increase by China on U.S. imports has sparked fears for the American agricultural sector, and potentially beyond. The move from 84% to 125% tariffs is expected to have significant impact on exports and disrupt global supply chains. Industry leaders and governments are taking notice. While Chinese President Xi Jinping expressed concern about escalating conflicts impacting all parties, former U.S. president Donald Trump defended the use of tariffs for protectionist policies, adding fuel to already heated political discourse. This creates a volatile environment in financial markets. Experts caution that past trade disputes have demonstrated how tariffs can hinder global commerce and trigger price fluctuations across multiple sectors, including digital assets.