Crypto and equities traders were hopeful for a last-minute solution that would prevent the US from enacting 104% tariffs on Chinese goods entering the United States, but in a press conference, the White House confirmed that the tariffs would start on April 9. Markets deteriorated when Peter Navarro, trade adviser to US President Donald Trump, stated that tariffs were “not a negotiation.”
As a result, the S&P 500 index closed on April 8 with a 1.6% loss, reversing earlier gains of 4%. This…
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