#tariffs

#tariffs

The bitcoin price plunged nearly $4,000 in a sharp evening sell-off after President Donald Trump announced plans to impose sweeping new tariffs on Europe on Saturday. Around 6 p.m. EST, massive amounts of selling hit the crypto market triggering a wave of forced liquidations across the bitcoin price and altcoins. The world's largest cryptocurrency fell from around $95,500 to an intraday low of $91,935 in a span of roughly two hours, according to Bitcoin Magazine Pro data.

Sir Keir Starmer will hold an emergency press conference on Britain's response to Donald Trump's latest tariff threats, after warning the US president in a Sunday night phone call that the move was wrong. Trump announced on Saturday that the UK would be among eight countries charged a 10 per cent tariff on any and all goods sent to the US from February 1, increased to 25 per cent from June 1, until a deal is reached for Washington to purchase Greenland from Denmark.

In a striking collective rebuke to President Trump, the leaders of Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden and the United Kingdom issued a joint statement Sunday condemning recent U.S. tariff threats tied to military actions they have taken in Greenland. In the statement, leaders of the eight countries underscored their commitment to shared NATO goals, saying that they stood in "full solidarity" with Denmark and Greenland.

The German military, or Bundeswehr, is pulling its reconnaissance team out of Greenland. Fifteen soldiers are reportedly leaving the Arctic island on a civilian flight to Copenhagen. The deployment was scheduled from the start to last only a few days, with troops withdrawing over the weekend. The team arrived Friday to assess conditions for possible NATO exercises. Their findings will be reviewed in the coming days, according to the operational command.

Global stock markets are bracing for falls when trading resumes on Monday after Donald Trump threatened eight European countries with fresh tariffs until they support his ambition to acquire Greenland. The US president's plan to impose new trade levies of 10% on goods from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland from 1 February, rising to 25% on 1 June, is creating fear in the markets, and among European businesses.

Now, the U.S. faces the prospect of a new cycle of retaliation and escalation. On Saturday, French President Emmanuel Macron hinted at what comes next. "Tariff threats are unacceptable and have no place in this context. Europeans will respond in a united and coordinated manner should they be confirmed," he posted on X. "We will ensure that European sovereignty is upheld."

The US government has introduced new import tariffs on advanced AI chips from Nvidia and AMD, with the aim of channelling part of the proceeds from sales to China directly into the US treasury. According to the Financial Times, the measure is part of President Donald Trump's broader trade and industrial policy, which explicitly intertwines economic transactions and national security.

The agreement will "drive a massive reshoring of America's semiconductor sector," the US Commerce Department said. In an interview to news channel CNBC, US Commerce Secretary Howard Lutnick said the objective was to bring 40% of Taiwan's entire chip supply chain and production to the United States. Had Taipei not agreed to manufacture in the US, the tariffs would likely be 100%, Lutnick added.

The FTSE 100 once again remains a leader in Europe, although the pullback in oil and precious metals has meant that commodity stocks are lagging behind as financials take the lead. Strong gains for the likes of HSBC, Barclays, and NatWest bring a recovery from a sector that has been hit by Trump's recent move to limit credit card interest rates to 10%.

With the Supreme Court potentially poised to invalidate recent tariffs, organizations face a confusing scenario: the possibility of some $200B in refunds to be sought, the specter of tariff reinstatement through other means, and general ongoing unpredictability regarding costs and processes for global trade. Having clear visibility into contract terms - such as price adjustments and renegotiation provisions - is essential to navigating this volatility, while implementing favorable terms in supplier, customer, and partner agreements can help build resilience.

What brings Greg Reyes to this Walmart south of Savannah are the low prices. He and his wife keep a close eye on their limited budget; she's retired and he's disabled. Their grocery list is always the same. But the prices have been changing. "I used to pay like $40 a year ago, and now we're paying like $60," Reyes says. In his bags today are some chicken, turkey and beef.

China recorded strong exports in 2025 with a record $1.2 trillion trade surplus, as producers shifted their focus to markets other than the US amid Trump's tariffs. Customs data showed that Beijing's global surplus rose 20% from the previous year, which saw a $992 billion surplus. Exports in 2025 stood at $3.7 trillion and imports at $2.58 trillion, government data showed on Wednesday. The record surplus was aided by a 6.6% bump in exports in the month of December when compared to December 2024,

President Donald Trump said Monday that he'll impose a tariff of 25% on any country that does business with Iran. "Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America," Trump said in a post on Truth Social. The White House did not immediately respond to a request for comment. This story is breaking. Check back for updates.