Trump Tariffs, New Tax Rates Could Severely Impact U.S. Bitcoin Mining Industry

New reciprocal tariffs confirmed by the Trump administration on July 31st have taken effect today, posing a significant blow to the U.S. mining industry, which depends largely on imports of mining equipment from Southeast Asian countries, experts warn.

Following the expiration of a 90-day tariff suspension announced during the 'Liberation Day' trade reforms in April, President Trump signed an executive order on July 31st imposing new tariff rates on various countries. Bitcoin mining equipment (ASICs) imported from major manufacturing hubs like Indonesia, Malaysia, and Thailand are now subject to a 19% reciprocal tariff, bringing the total tax rate to 21.6%.

The new tax rate is...