The value of the U.S. government's Bitcoin holdings has declined 12% from $17.24 billion to $15.21 billion since Trump's announcement of "reciprocal tariffs."

Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.

As markets tumble and fears grow over a global trade war in response to President Trump's tariffs, he has advised Americans to "be strong" and "hang tough."

Last Wednesday, which the Trump administration dubbed "Liberation Day," Trump announced a sweeping set of tariffs on most countries, measures even more aggressive than those proposed by some of the harshest critics of free trade.

President Donald Trump threatened to impose additional 50% import taxes on China if it doesn't withdraw its planned retaliatory tariffs by April 8th. He made the statement on Truth Social Monday. Trump meanwhile is ready to negotiate with other countries.

The higher rates are set to be collected beginning Wednesday, ushering in a new era of economic uncertainty with no clear end in sight.

President Donald Trump said Sunday that he won't back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the U.S.