Bitcoin Falls as Tariff Uncertainties Dampen Risk Appetite — Market Talk
Bitcoin falls as the initial optimism over a U.S.-China agreement to temporarily lower tariffs fades given ongoing uncertainties. This uncertain outlook could trigger further bouts of market volatility, UBS Global Wealth Management analyst Mark Haefele says in a note. The Trump administration is preparing the groundwork for tariffs on certain products such as pharmaceuticals, critical minerals, lumber, copper, and semiconductors. These tariffs are likely to be more durable and feature fewer carve-outs and country exemptions because they are focused on strategic sectors, he says. "We estimate a 25% tariff on these sectors could raise the U.S. effective tariff rate by an additional 4 percentage points." Bitcoin falls 1.7% to $101,806, according to LSEG. ([email protected])