Trump plans to impose tariffs of up to 200%-300% on semiconductors within two weeks and threatens to impose a 50% tariff on countries purchasing Russian energy. For the Crypto Assets market, this news is generally unfavourable.

- Macroeconomic level: Increased tariffs on chips impact the semiconductor industry, adding uncertainty to the global economy, and investors' risk appetite decreases, making them more inclined towards traditional safe-haven assets; at the same time, it will exacerbate fluctuations in financial markets, as the correlation between crypto assets and traditional financial markets strengthens, leading investors to stay on the sidelines, resulting in a decline in crypto asset prices.
- Industrial correlation aspect: Chip tariffs lead to a significant increase in mining equipment costs, compressing miners' profit margins, and some small miners may stop mining, resulting in a decline in hash rate affecting the security and stability of the crypto assets network; moreover, restrictions in the semiconductor industry will also hinder the innovative application of blockchain technology in the crypto assets field, weakening the attractiveness of the crypto assets market. #BTC#