$83K Bitcoin as China Unleashes 34% Tariff on All American Exports

China’s Broad Tariff Retaliation Rattles Markets, Sends Bitcoin Retreating to $83K

Global markets took another hit Friday after China announced comprehensive retaliatory tariffs on all U.S. goods, intensifying the trade war and weighing heavily on investor sentiment during European trading hours.

The move follows President Trump’s midweek tariff hike, which raised levies on Chinese imports to 54%. In response, Bitcoin (BTC) swiftly pulled back from a morning high of $84,600, sliding to $83,000 as traders fled risk assets. Major altcoins including ETH, XRP, and SOL similarly pared gains, flattening out after an early push.

U.S. stock index futures also felt the pressure, with S&P 500 and Nasdaq contracts both down more than 2%, signaling a rough open on Wall Street.

“The scale of China’s response suggests a more protracted standoff, which is unsettling global markets,” said Justin Low, analyst at ForexLive. “We’re seeing capital shift toward defensive positions as uncertainty rises.”

With volatility climbing and the U.S. nonfarm payrolls report looming, investors are bracing for further swings across both equities and crypto heading into the weekend.

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