When tariffs danced with Bitcoin and markets held their breath

On March 12, 2025, global markets experienced a rollercoaster ride due to shifting narratives around tariff measures and deteriorating trade relations, highlighted by President Trump’s threat to double tariffs on Canadian steel and aluminum. This led to a market selloff, with US indices sliding and European markets reflecting unease. Despite this, Chinese markets rose as investors bet on Beijing’s ability to cushion the impact. Additionally, a significant development was the US government’s bold step into the cryptocurrency realm, establishing a Crypto Strategic Reserve and focusing on boosting the value of digital assets like Bitcoin and XRP.

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