On the morning of March 4 (U.S. time), the crypto market noticed a pointy decline, wiping out the positive aspects from the day past when former President Donald Trump introduced plans to make use of crypto as a reserve asset. The drop shattered hopes of reaching the $90,000 price degree, which merchants had been eyeing only a day earlier.
Tensions Rise Between the U.S. and Canada
Supply: CNN
The sudden crash in each the crypto and U.S. inventory markets could also be linked to escalating commerce tensions between the U.S. and Canada. After a 30-day delay, the U.S. authorities has formally imposed a 25% tariff on Canadian imports and a ten% tariff on the Canadian vitality sector.
In response, Canada has hit again, with Prime Minister Justin Trudeau saying a 25% tariff on $20.7 billion price of U.S. items. An extra $86.2 billion price of imports from the U.S. may even face tariffs after a 21-day assessment interval.
“We will keep these tariffs in place until the U.S. reverses its trade decision,” Trudeau acknowledged. “If the U.S. doesn’t change course, we are actively discussing additional non-tariff measures with local leaders.”
Trump Teases Key Speech
Someday earlier than addressing Congress for the primary time in his second time period, Trump stirred hypothesis with a cryptic social media publish: “Tomorrow night will be big. I will tell it like it is.”
Trump Teases Key Speech
His speech is about for 9 PM ET (New York time) on Tuesday, and whereas it’s not formally a State of the Union deal with, it stays a significant platform for Trump to stipulate his key priorities.
One of many anticipated highlights is his authorities restructuring plan, which incorporates the newly fashioned Division of Authorities Effectivity (DOGE), led by billionaire Elon Musk. The initiative has already triggered main federal job cuts and the shutdown of a number of companies, sparking authorized challenges and widespread debate.
Trump can be more likely to emphasize his immigration insurance policies, which have been a number of the most controversial in his administration. Since taking workplace, he has halted asylum functions on the southern border and suspended refugee resettlements. He additionally tried to finish birthright citizenship, although federal courts blocked the transfer.
Whereas the White Home claims these insurance policies have been efficient, critics argue they’ve fueled misconceptions about immigration and crime.