Oh, gather ’round, dear readers, for a tale of tariffs and tumult! It seems our dear President Donald Trump has decided to play a game of economic hopscotch, and guess who got their toes stepped on? That’s right, our beloved Bitcoin! 🪙💥
With a flourish and a dramatic flair, Trump announced a whopping increase in tariffs on Canadian steel and aluminum, jumping from a mere 25% to a staggering 50%! Why, you ask? Well, it’s all because of Ontario’s cheeky little 25% tariff on U.S. electricity. Talk about a tit-for-tat! ⚡️
In a post that could only be described as “Trump-tastic” on his Truth Social, he declared that these new tariffs would take effect on March 12. But wait, there’s more! He also had a bone to pick with Canada’s dairy tariffs, which are so high they could give a giraffe a nosebleed—ranging from 250% to a jaw-dropping 390%! 🦒💸
‘Egregious’ tariffs
Now, if Canada doesn’t play nice and remove those “egregious” tariffs, Trump warned that the U.S. would crank up the heat on Canadian car imports starting April 2. He claimed this would effectively “shut down the automobile manufacturing business in Canada.” Oh, the drama! 🚗💨
And in a twist that could make even the most seasoned soap opera writer blush, Trump suggested that Canada should just become the Fifty-First State! Imagine that—no more tariffs, just maple syrup and hockey! 🍁🏒
As you might expect, the markets reacted like a cat in a bathtub. Bitcoin (BTC) took a nosedive of 4.2%, plummeting below $80,000, while The Dow Jones dropped nearly 600 points. Investors were left scratching their heads, wondering if they should buy a boat or just float away! 🚤😅
But fear not, dear Bitcoin enthusiasts! As of this very moment, Bitcoin has bounced back to a cozy $81,000. Hooray for resilience! 🎉
This tariff tussle follows Trump’s previous escapades with Canadian and Mexican goods, and let’s just say, Canada and Mexico are not taking this lying down. They’ve pushed back, claiming that Trump is playing fast and loose with trade agreements. Oh, what a tangled web we weave! 🕸️
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2025-03-11 18:38