Mexico President Claudia Sheinbaum has said that her administration is going to give a comprehensive response to the tariffs after April 2, The Kobeissi Letter reported, adding:“Reciprocal tariffs on the reciprocal tariffs are coming.”Spooked by fears of a trade war and a potential US recession, investors are shifting away from volatile assets like ETH toward safer havens, driving its price down. Long liquidations accelerate ETH downtrendEther’s tumble over the past 24 hours coincided with a wave of long liquidations that forced traders to exit their leveraged positions.
While Trump touts this as a way to bolster the American automotive industry, the immediate fallout is likely to rattle global markets, particularly risk-on assets like ETH. When Trump imposed tariffs on Canada, Mexico, and China in early March, ETH dropped from $3,400 to $2,100 in less than 72 hours before partially recovering.
Source: CoinGlassRelated: Ethereum devs prepare final Pectra test before mainnet launchETH faces further declines toward $1,200Ether’s price technicals are also looking weaker, notably its prevailing bear flag pattern.
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