Trump’s Tariff Plan Hits Canada & Mexico, Crypto Market Reacts

Trump’s 25% Tariffs on Canada & Mexico Stir Global Market Reactions

Big news from the White House has sent shockwaves through global markets. President Donald Trump has confirmed that the 25% tariffs on goods from Canada and Mexico will start next month. This decision, after a short delay, has worried many people about the economy and market reaction on the news can be seen globally as well.

Trump Tariffs Latest News: What’s Going On?

At a press conference with French President Emmanuel Macron, Trump said the tariffs are set to begin right after March 4. Canada and Mexico were given extra time to improve their border security, but Trump has decided to move forward with the plan. He stressed that the U.S. wants fair deals with other countries.

“If they charge us, we’ll charge them the same. It’s only fair,” Trump said. He also suggested that other countries, like China and India, could be hit with similar tariffs soon. This is all part of Trump’s bigger plan to create fairer trade deals for the U.S.

How Canada and Mexico Are Reacting

Mexico’s President Claudia Sheinbaum is still hopeful that a deal can be made before the tariffs kick in. She mentioned that talks are still happening and said she’s open to speaking directly with Trump if it comes to that. Mexico has already sent 10,000 National Guard troops to its northern border to help curb illegal immigration and drug smuggling—two major concerns for Trump.

Canada, meanwhile, is getting ready to push back if the tariffs are enforced. The country has spent $900 million to boost border security and has appointed a special official to focus on stopping fentanyl trafficking. Canadian officials are also considering placing their own tariffs on U.S. goods if Trump’s plan moves forward. While energy exports like oil and electricity will face a smaller 10% tariff, many other Canadian goods will be hit harder.

A Quick Look Back: Steel and Aluminum Tariffs

Earlier this month, Trump announced a 25% tariff on steel and aluminum imports, which had already worried businesses about possible trade wars. By removing past exceptions for Canada and Mexico, Trump sent a clear message that he’s serious about his tough trade policies. The new tariffs on Canada and Mexico are a continuation of that approach.

How Crypto Market reacts after Trump's Tariff announcement

Trump’s tariff news didn’t just shake regular markets—it hit the crypto market hard too. In just 24 hours, the global crypto market lost 7.91% of its value, dropping to $2.88 trillion. Bitcoin price fell by 7.23%, now trading at $89,026.90. Ethereum saw an even bigger drop, falling 11.36% to $2,936.73. Solana was hit the hardest, sliding 15.35% to $135.20.

As the world waits to see how Canada and Mexico respond—and whether Trump will expand his tariff war—markets remain on edge. The next few weeks will be crucial in determining if the crypto market can bounce back or if prices will keep falling.