El Salvador is preparing to adopt Bitcoin as its national currency. The Central American country will be the first country to legally adopt cryptocurrency if the bill is passed. El Salvador President Nayip Bukele announced yesterday that he will present a bill to Congress next week to make Bitcoin the legal currency in the country. Digital currencies are seen as the currency of the future in some countries, including China, which is currently testing its own digital currencies.
China has imposed a 34% customs duty on all US goods in response to the same rate announced by US President Donald Trump. The move includes trade restrictions on rare earth exports critical to tech and defense industries and the suspension of chicken imports from two US firms.
China also blacklisted 11 American companies, including major defense and tech firms, banning them from trade with Chinese entities. Additionally, China filed a complaint at the World Trade Organization, calling the US tariffs a violation of global trade rules and an act of “unilateral bullying.”
TR