Virtual assets are falling all at once as the Trump administration moves to

Virtual assets are falling all at once as the Trump administration moves to enforce tariffs.

On the morning of the 2nd, on Coin Market Cap, a global coin market relay site, Ripple plunged more than 6% from 24 hours ago and fell to $2.86. As of 8:00 a.m., Bitcoin was trading at $10,675, down 1.72% from 24 hours ago.

Ripple had recently been holding the rally, around $3 as the Trump administration is expected to remove various regulations on cryptocurrencies, but plunged more than 6%. This is because the Trump administration is expected to push ahead with tariffs.

If tariffs are enforced, import prices will inevitably rise, raising inflationary pressure in the United States. If inflationary pressure rises, interest rate cuts will inevitably go down the drain.

Reuters reported on the same day that the imposition of tariffs would be postponed until March 1 as a process was in place to allow countries to request exemptions for certain exports.

But the White House dismissed it as “false,” and Trump’s press secretary, Caroline Levitt, said the tariffs, including a 10% additional tariff on China, would take effect Feb. 1.

The Trump administration is pushing for additional tariffs of 25% on Canada and Mexico and 10% on China.

Not only Ripple, but also other cryptocurrencies are falling all at once.