Trump Tariffs Update: Tariff

Bitcoin slips below $75K as Trump demands rate cuts, blames China for economic abuseApril 7, 2025 — President Donald Trump has renewed his push for Federal Reserve interest rate cuts, asserting there is "no inflation" in the U.S. economy even as markets tumble in the wake of his sweeping global tariff hikes.“Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION,” Trump posted on Truth Social Monday morning. “The long-time abused USA is bringing in Billions of Dollars a week from the abusing countries on tariffs that are already in place.”Last week, Trump stunned markets by escalating import tariffs — raising China’s effective tariff rate to 54% — which sparked retaliatory action from Beijing. In response, China raised its own tariffs by 34%, further intensifying a global trade standoff now being called by analysts a potential “economic cold war.”Markets Slide, Bitcoin Drops Below $75KFollowing the tariff hike, Nasdaq futures dropped to their lowest since January 2024, and Bitcoin (BTC) fell below $75,000 early Monday, extending losses triggered by recession fears and global trade tension.“The biggest abuser of them all, China… just raised its tariffs by 34%,” Trump added. “They’ve made enough, for decades, taking advantage of the Good OL’ USA! Our past leaders are to blame.”Trump also stated he will not strike a trade deal with China unless the U.S. trade deficit is addressed, signaling a prolonged period of economic confrontation.Falling Oil Prices Reinforce Trump’s Disinflation ClaimThe West Texas Intermediate (WTI) oil price has dropped 16% in just four days, now trading around $60 per barrel, after OPEC announced production increases. Analysts say falling crude prices typically introduce disinflationary pressures into the global economy — aligning with Trump’s assertion that inflation is under control.His call for Fed rate cuts also aligns with market pricing. Traders are now expecting up to five rate cuts by the Federal Reserve in 2025, with many viewing potential Fed easing as a way to cushion the blow of Trump’s aggressive tariff agenda, according to CoinDesk.