According to The Kobeissi Letter, President Trump's implementation of 25% tariffs on Canada and Mexico, and 10% tariffs on China, effective at 12:01 AM ET, has led to significant economic tensions. Canada has retaliated with 25% tariffs on up to $155B CAD of US goods and a 25% tax on electricity from Ontario to the US. These actions could influence cryptocurrency markets as investors seek alternative assets to hedge against potential economic volatility.

According to The Kobeissi Letter, China has imposed 10%-15% tariffs on US agricultural products, which could impact US exports and influence trade balances negatively. Mexico also announced plans to implement retaliatory tariffs against the US, further straining trade relations. These actions could potentially cause volatility in the agricultural and related markets, affecting commodity traders and investors. Additionally, Canada and Mexico are considering 'non-tariff' measures, indicating a broader spectrum of trade tensions that could influence market dynamics.