Trump administration tariffs of 10% to 12.5% on goods from 60 trading partners, including China and the EU, pressured crypto and Chinese stocks as Bank of France governor Emmanuel Moulin warned of global growth risks.
Bitcoin fell below $65,000 after the Trump administration imposed new U.S. tariffs of 10% to 12.5% on goods from 60 trading partners, including China and the European Union, reinforcing a broader risk-off mood across markets. Chinese equities also declined, with the Shanghai Composite and Shenzhen Component each down 0.6%, though losses were partly cushioned by a net CNY 500 billion liquidity injection from the People's Bank of China through a one-year MLF operation. Bank of France governor Emmanuel Moulin said the tariffs add uncertainty to the global economy and are negative for growth, while saying Europe should not be materially affected if the 2025 Turnberry trade deal with the EU is respected.