On the morning of March 4 (American Times), the cryptocurrency market fell sharply, eliminating earnings from former President Donald Trump’s plan to use cryptocurrency as a reserve asset. The hope for a drop is to reach the $90,000 price level, and traders have been paying attention a day ago.
Tensions intensify between the United States and Canada
Source: CNN
The sudden collapse of cryptocurrencies and U.S. stock markets may be linked to escalating trade tensions between the United States and Canada. After a 30-day delay, the U.S. government has officially imposed a 25% tariff on Canadian import tax rates and a 10% tariff on Canadian energy sector.
In response, Canada hit back with Prime Minister Justin Trudeau announcing a 25% tariff on US goods worth $20.7 billion. After a 21-day review period, it will also face $86.2 billion worth of imports worth $86.2 billion.
“We will hold these tariffs in place until the U.S. withdraws its trade decision,” Trudeau said. “If the U.S. does not change the course, we will actively discuss other non-tariff measures with local leaders.”
Trump ridicule key speech
The day before Trump’s first address to Congress in the second semester, he drew speculation with a mysterious social media post: “Tomorrow will be big. I’ll say it like that.”
Trump ridicule key speech
His speech is scheduled for 9 p.m. ET on Tuesday, and although it is not a formal union speech state, it remains the main platform for Trump to outline his key priorities.
One of the expected highlights is his government restructuring plan, which includes the newly formed Department of Government Efficiency (DOGE) led by billionaire Elon Musk. The initiative has sparked the closure of major federal work and several agencies, sparking legal challenges and extensive debate.
Trump may also emphasize his immigration policy, the most controversial in his administration. Since taking office, he has stopped asylum applications on the southern border and suspended resettlement of refugees. Although federal courts blocked the move, he also tried to end his reproductive right citizenship.
While the White House claims these policies are effective, critics believe they fuel misunderstandings about immigration and crime.
