Bitcoin (BTC) price prediction as BTC reverses gains

Bitcoin has wiped out recent gains with a 10% dump in the past 24 hours; the same as Ethereum price. This happens as the US began its tariffs program against Canada and Mexico

President Donald Trump's administration is planning to begin levying tariffs on Canadian and Mexican imports from Monday, a move that comes amid a broader trade dispute with China.

The tariffs on Canadian and Mexican goods will be imposed in response to the two countries' failure to cooperate in reducing the U.S. trade deficit, according to a statement from the Office of the United States Trade Representative (USTR).

The tariffs on Canadian goods will range from 10% to 25%, while those on Mexican goods will start at 5% and could escalate to 25%. The tariffs will cover a wide range of products, including aluminum, steel, paper, and seafood.

The tariffs are part of a broader trade strategy by the Trump administration, which has been focused on reducing the U.S. trade deficit and creating jobs in the United States.

The administration has also been engaged in a trade war with China, which began in early 2018 with the Trump administration imposing tariffs on $50 billion worth of Chinese goods.

China retaliated with tariffs of its own, and the two countries have since imposed tariffs on nearly all of each other's goods.

The trade war has had a significant impact on the global economy, leading to uncertainty and volatility in financial markets.

The tariffs on Canadian and Mexican goods are the latest development in the Trump administration's trade policy.

The administration has been criticized by some economists for its handling of trade, but it has defended its policies as necessary to protect U.S. jobs and businesses.

The tariffs are sure to escalate trade tensions further. However, they could also provide an opportunity for the United States to reach new trade deals with Canada and Mexico.

The tariffs on Canadian goods are being imposed in response to Canada's failure to cooperate in reducing the U.S. trade deficit with that country.

The tariffs on Mexican goods are being imposed in response to Mexico's failure to cooperate in reducing the U.S. trade deficit with that country and to take steps to curb illegal immigration to the United States.

The tariffs will take effect on Monday, May 13.

The tariffs on Canadian goods will range from 10% to 25%, depending on the good. The tariffs on Mexican goods will start at 5% and could escalate to 25%, depending on the good and the quarter of the year.

The tariffs will cover a wide range of products, including aluminum, steel, paper, and seafood.

The tariffs are part of a broader trade strategy by the Trump administration, which has been focused on reducing the U.S. trade deficit and creating jobs in the United States.

The administration has also been engaged in a trade war with China, which began in early 2018 with the Trump administration imposing tariffs on $50 billion worth of Chinese goods.

China retaliated with tariffs of its own, and the two countries have since imposed tariffs on nearly all of each other's goods.

The trade war has had a significant impact on the global economy, leading to uncertainty and volatility in financial markets.

The tariffs on Canadian and Mexican goods are the latest development in the Trump administration's trade policy.

The administration has been criticized by some economists for its handling of trade, but it has defended its policies as necessary to provide a level playing field for U.S. workers and businesses.