According to Crypto Rover (@rovercrc), China has announced 100% tariffs on select Canadian imports, signaling the start of a global trade war. This development could have significant implications for the cryptocurrency market, particularly Bitcoin, as investors may seek alternative assets amidst increasing global economic uncertainty.

According to The Kobeissi Letter, a recent Bank of America survey shows that 42% of respondents now view a global trade war as the most bearish factor for risk assets in 2025, surpassing January's 30%. This concern has overtaken the recent apprehension regarding AI competition from China (source: The Kobeissi Letter, March 4, 2025).