U.S.-Canada Tariff Increase Sparks Concerns in Crypto Market

A tariff increase announced by U.S. President Donald Trump on Canadian imports has raised concerns about potential economic disruption, particularly in the cryptocurrency market. The move follows an advertisement criticizing U.S. trade policies aired during the World Series. While immediate impacts on crypto assets remain limited, experts predict indirect effects from growing trade tensions between the two nations. 10% tariff increase ordered by Trump on Canadian imports. The ad, referencing former President Reagan, invoked Trump’s call for its removal. Trump says the advertisement was to be taken down immediately, but they let it run last night during the World Series. He alleges it was a fraud and claims he is increasing the tariffs on Canada by 10% due to their misrepresentation of facts. This escalation underscores ongoing tensions between the U.S. and Canada, which have stalled trade negotiations. While traditional markets are facing heightened risk aversion, cryptocurrency has shown limited direct impact so far, though some analysts predict historical volatility in trade disputes like steel tariffs could potentially affect crypto markets indirectly. Past actions by Trump during his previous term triggered similar retaliatory measures from Canada, mainly affecting traditional markets with minimal impact on digital assets. Experts suggest that future disruptions in the trade relationship between Canada and the U.S. might lead to cautious capital movements, particularly in regulated financial systems where Bitcoin (BTC) could act as a potential safe haven asset based on historical trends.