US Customs Tariff System Failures The State Department imposes 125% tariffs on the US
Reprinted from jinse
04/15/2025·10DHeadlines
▌US Customs: Tariff declaration system failure
The U.S. Customs report said the system used to exempt cargo tariffs had a malfunction. Affected freight includes all trade goods from countries now in the 90-day tariff moratorium imposed by the Trump administration. U.S. Customs said it found that the entry code used by U.S. shippers to apply for duty-free goods is unavailable and that "this issue is under review." For now, this means the U.S. government is temporarily unable to impose tariffs. U.S. Customs said it will release the latest news after the problem is resolved. Dewardric McNeal, senior policy analyst at consulting firm Longview Global, said the failures do happen, but this is a coincidence, which will trigger more people's doubts about the ability of US customs to keep up with the pace of tariff adjustments.
▌Tariff Commission of the State Council: 125% tariff is imposed on all imported goods in the United States
On April 10, 2025, the US government announced that the tax rate of imposing "reciprocal tariffs" on Chinese goods imported to the United States will be further increased to 125%. The US imposed abnormally high tariffs on China, which seriously violated international economic and trade rules and basic economic laws and common sense. It is completely a unilateral bullying and coercion practice. In accordance with the "Tariff Law of the People's Republic of China", "Customs Law of the People's Republic of China", "Foreign Trade Law of the People's Republic of China" and other laws and regulations and the basic principles of international law, with the approval of the State Council, the measures to impose tariffs on imported goods originating from the United States will be adjusted from April 12, 2025. The relevant matters are as follows: 1. Adjust the tariff rate stipulated in the "Announcement of the State Council Tariff Commission on Adjusting the Measures to Implement Tariffs on Imported Goods Originating from the United States" (Tax Commission Announcement No. 5 of 2025), from 84% to 125%. Given that under the current tariff level, there is no possibility of market acceptance of goods imported from the United States from the United States, if the United States continues to impose tariffs on goods imported from the United States, China will ignore it. 2. Other matters shall be implemented in accordance with the "Announcement of the State Council Tariff Commission on Improving Tariffs on Imported Goods Originating in the United States" (Tax Commission Announcement No. 4 of 2025).
Quotes
As of press time, according to Coingecko data:
BTC's recent transaction price is US$83,167.25, with an intraday increase of +4.3% ;
ETH's latest transaction price is US$1,558.59, with an intraday increase and decrease of +1.6 % ;
BNB's recent transaction price is US$585.79, with an intraday increase of +1.3% ;
SOL's latest transaction price is US$121.03, with an intraday increase and decline of +7.0% ;
DOGE's recent transaction price is US$0.1587, with an intraday increase and decrease of +2.3 % ;
XPR's recent transaction price is US$2.02, with an intraday increase and decrease of +1.7 % .
policy
▌The UK Financial Conduct Authority has appointed Nikhil Rathi as CEO again
According to CoinDesk, Nikhil Rathi, CEO of the Financial Conduct Authority (FCA), has been reappointed. Rathi, the first FCA CEO to be awarded another five-year term by the Treasury Department, will have more time to implement his plans for the financial sector, including the cryptocurrency sector. Under his leadership, the FCA has registered 51 cryptocurrency companies under the anti-money laundering rules. Some of these companies include cryptocurrency and investment firms Coinbase, Revolut, eToro, and BlackRock, the largest asset manager, which has recently joined. The FCA is seeking to establish a new cryptocurrency regulatory regime by 2026 and launch a new authorization process. The agency intends to release documents on stablecoins, trading platforms, pledges, prudent cryptocurrency exposure and lending early next year.
Blockchain application
▌Binance Contract Will Launch XCNUSDT USDT Perpetual Contract
According to the official announcement, the Binance Contract Platform will launch a perpetual contract at the following time: 23:30 on April 11, 2025 (East Eighth District Time): XCNUSDT perpetual contract, with a maximum leverage of 25 times.
Cryptocurrency
BlackRock reports digital asset inflows of $3 billion in the first quarter
According to Cointelegraph, BlackRock, the world's largest asset manager, reported a total net inflow of $84 billion in the first quarter of 2025, achieving 3% annualized growth. According to its financial report released on April 11, the strong performance is mainly due to the record performance of iShares ETF and the continued strong net inflows in the private equity market. BlackRock said that of the net inflows of iShares ETFs of $107 billion, $3 billion (2.8%) flowed into digital asset products in the first quarter. As of March 31, 2025, digital assets brought US$34 million to BlackRock, less than 1% of its long-term revenue; at the end of the first quarter, its total digital assets under management were US$50.3 billion, accounting for about 0.5% of the total assets under management. Although the proportion is not high, BlackRock's net inflow of $3 billion in digital assets is still worth paying attention to given the general liquidation of the Bitcoin ETF market earlier this year, and data shows that investors' interest in crypto-backed ETFs is stable.
▌ Curve founder: once again extends the lock-up period of veCRV I hold to 4 years
Curve founder Michael Egorov said on X that he has once again extended the lock-up period of his holding veCRV to 4 years and publicly extended the specific trading records of the lock-up.
▌U.S. Deputy Minister of Justice: Priority to combating illegal activities using cryptocurrencies
US Deputy Secretary of Justice Lisa Monaco recently stressed that it will prioritize combating illegal activities using cryptocurrencies, especially the use of privacy protection tools. In contrast, New York Attorney General Letitia James advocates stricter cryptocurrency regulation. Monaco believes that the Department of Justice's existing legal tools are sufficient to deal with related issues without additional legislation. This position contrasts with the practice of some state officials pushing for stricter regulations, highlighting the differences between the federal and states on cryptocurrency regulation.
▌Lomond School in Scotland will accept Bitcoin payment tuition
According to Cointelegraph, Lomond schools in Scotland will accept Bitcoin payments from the fall semester of 2025, which is the first time in the UK. The school currently has no plans to accept other cryptocurrencies, as well as converting Bitcoin into fiat currencies immediately. In the future, schools may establish a Bitcoin vault, but they need to listen to the community's opinions.
Important economic trends
▌Federal Kashkali: Investors are withdrawing from the United States
Fed Kashkali said on Friday that recent market trends show that investors are leaving the safest investment location in the United States as Trump's trade war escalates. He said that in recent days, as U.S. Treasury yields rise, the dollar has depreciated against global currencies, the trend is the opposite of what you usually see. "Usually, when you see a significant increase in tariffs, I expect the dollar to appreciate. I think the fact that the dollar is falling at the same time makes the statement that investors' preferences change more credible," Kashkali said. He also said: "Investors around the world regard the United States as the best place to invest, and if that's the case, we'll have a trade deficit. So one way to show now is that the yields of all kinds of U.S. assets are lower." "If the trade deficit falls, investors may say, well, the United States is no longer the most attractive investment place in the world, and then you'll see bond yields rising." However, Kashkali noted that he's seeing "pressure" in market operations, not serious chaos.
▌The three major U.S. stock indexes closed up collectively
The three major U.S. stock indexes closed up collectively, with the Nasdaq rising 2.06%, the S&P 500 rising 1.81%, and the Dow Jones rising 1.56%. The S&P 500 rose 5.7% this week, the largest single-week gain since November 2023, with the Nasdaq rising 7.29% this week and the Dow Jones Industrial Average rose 4.95% this week. Most large technology stocks rose, with Apple rising more than 4%, Nvidia rising more than 3%, and Google and Amazon rising more than 2%. Most chip stocks rose, with Broadcom and AMD rising by more than 5%, and TSMC rising by nearly 4%.
Golden Encyclopedia
▌What is an address poisoning attack in cryptocurrency?
Address poisoning attacks are malicious means used by attackers. Attackers can rerout traffic, interrupt services, or access sensitive data without authorization by inserting fake data or changing routing tables. These attacks exploit flaws in network protocols that seriously threaten the integrity of data and network security.
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