COINDESK DAILY: Bitcoin Pulls Back After China Announces Retaliatory Tariffs
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 4 April 2025
⏱️ 3 minutes
🧾️ Download transcript
Summary
Host Christine Lee breaks down the latest news in the crypto industry as China announced 34% retaliatory tariffs on U.S. imports.
Bitcoin sheds gains after China announced 34% retaliatory tariffs on U.S. imports and U.S. stocks extended losses after the Nasdaq suffered its worst day in 25 years. Plus, Binance co-founder CZ will advise Kyrgyzstan on blockchain tech. CoinDesk's Christine Lee hosts "CoinDesk Daily."
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This episode was hosted by Christine Lee. “CoinDesk Daily” is produced by Christine Lee and edited by Victor Chen.
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Transcript
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| 0:49.7 | Trump's trade war heats up as Trump hits back. It's Friday. April 4th, 2025. I'm Christine Lee. |
| 0:57.0 | This is Coin Us Daily. |
| 1:03.0 | China announces 34% tariffs on all U.S. goods, sending Bitcoin falling back below $83,000. |
| 1:13.4 | Major coins reversed gains after Beijing stepped up trade tensions by announcing retaliatory tariffs following U.S. President Donald |
| 1:18.1 | Trump's Wednesday decision to impose tariffs on 180 nations, with China bearing the highest |
| 1:24.0 | penalty with an overall 54% levy. Trump's global trade war is sending the U.S. stock market sliding with the NASDAQ lower Friday |
| 1:32.3 | after dropping almost 5.5% on Thursday, one of the worst single-day losses since 2000. |
| 1:38.3 | By contrast, Bitcoin price, which is typically correlated with U.S. equities over short timeframes, has been relatively |
| 1:45.0 | resilient. BTC, which tumbled immediately after Wednesday's announcement while stock markets |
| 1:50.5 | were closed, rose 7 tenths of a percent Thursday, and at one point, climbing above $84,000 |
| 1:56.4 | Friday before retreating after China's retaliatory tariff announcement. |
| 2:01.3 | CoinDesk's Omkar Godbole noting that the downside appears limited, probably because the |
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