Trump raises global tariffs to 15%…crypto market holds steady

As U.S. President Donald Trump said he would raise the global tariff rate from the existing 10% to 15%, the cryptoasset (cryptocurrency) market largely held its ground without major moves.

On the 21st (local time), President Trump wrote on his Truth Social account, "For countries that have exploited America for decades, I will raise global tariffs to a legally permitted and validated level of 15%." He also again criticized the Supreme Court for limiting tariff-imposition authority under the International Emergency Economic Powers Act (IEEPA).

Earlier, when Trump announced a 10% global tariff, he said he would rely on other legal bases such as the 1962 Trade Expansion Act and the 1974 Trade Act. However, pro-crypto attorney Adam Cochran pointed out constraints on the president’s tariff authority, saying, "Those laws can be applied only to countries with trade deficits, for a time-limited period of 150 days, and only within a capped percentage limit."

Trump’s successive tariff announcements have increased volatility in equity and crypto markets. In the past, each time news of expanded tariffs emerged, risk assets sold off sharply, amplifying macroeconomic uncertainty.

But the crypto market remained relatively stable immediately after this announcement. Bitcoin (BTC) held the $68,000 level, and Ethereum (ETH) also traded in the high-$1,900s without major swings. The 'Total3' indicator, which represents the total market capitalization of cryptoassets excluding Bitcoin and Ethereum, fell by less than 1% and held around $713 billion.

While macro risks remain a latent variable, some in the market say a degree of short-term resilience to tariff headlines may have formed.