According to The Kobeissi Letter, in 2024, the US and China engaged in $582 billion worth of trade, with the US importing $439 billion from China and China importing $143 billion from the US. The recent imposition of 34% tariffs by both countries could significantly impact the trade dynamics, resulting in approximately $198 billion in tariffs annually. This development represents a considerable tax burden, influencing market sentiments and potentially affecting cryptocurrency trading as investors react to global economic tensions.