According to today's data from Satoshi Club, China raised the trade tax on US imports from 34% to 84% on April 10th. The retaliation comes after the US nearly doubled tariffs on Chinese imports.
Broken: China, China announced an additional 84% tariff on US goods from April 10th. $BTC has dropped from $77.1K to 75.8K op.twitter.com/vboju6wc9i's lowest
– Satoshi Club (@esatoshiclub) April 9, 2025
China's tariff retaliation
Today, China challenged Trump-led customs policy by increasing taxes on US imported products to over 80%. Tariffs on US goods coming to China will be raised from 34% to 84% from April 10th, according to the latest news shared by Satoshi Club. The increase began to take effect yesterday, April 8th, as a retaliatory move against the recent US tariff hikes on Chinese products.
The Trump-led government announced a series of new trade tax policies last week on April 2, warning that other countries would not revenge. While some countries, such as Japan, appear willing to engage in negotiations on tariff issues, China appears to be embracing an uncompromising approach and quickly announced the counter.
Bitcoin tries to recover
Trump's announcement of multiple trade tariffs that came into effect last week and international markets targeting countries that have exploited trade imbalances as disadvantages in the US economy. Tensions in global trade have caused an immediate plunge across international markets, including cryptocurrencies.
Today, Bitcoin prices have fallen further from 77.1k to a low of 75.8k after the US-China trade war caused fear across the crypto market. The asset is currently valued at $76,831, a 4.1% decrease from yesterday.
Despite the immediate entry, BTC already shows signs of recovery. Assets appear to have moved since the fall and are beginning to stabilize, suggesting that buying pressure will build up as the market panics.
Long-term buyers, especially whales, are still accumulating, showing strong optimism about Bitcoin's long-term movement despite recent pullbacks. The assets are still strong. That recovery appears to be supported by long-term buyers who view it as a safe haven against economic disruption.
