Key Takeaways Bitcoin and stocks related to the crypto industry slid Monday morning on fears of the impact of the Trump administration's new tariffs.Trump rolled out his 25% tariffs on goods from Mexico and Canada Saturday,

“A tidal wave of fear, uncertainty and doubt (FUD) has been unleashed across the cryptocurrency market after U.S. president Donald Trump’s Friday tariff announcement,” Petr Kozyakov, chief executive crypto payment platform Mercuryo, said in emailed comments.

President Donald Trump’s tariffs on major trading partners, including China, Canada, and Mexico, wipes $2.26 billion from the crypto market. Nick Forster, Founder of Derive.xyz, told FXStreet that recent tariffs imposed are likely to increase inflation, which could dampen investor sentiment in crypto markets.