Crypto Market Crash After Trump's 100% Tariff Announcement on China
The crypto market has declined sharply following U.S. President Donald Trump's announcement of a 100% tariff on Chinese goods, set to take effect on November 1, 2025.
This measure is a response to Beijing's export restrictions and has led to broad selling across digital assets, intensifying market losses.
China had taken an "extraordinarily hostile" stance on trade by sending a global letter outlining new export controls.
According to Trump, the measures will affect nearly every product China produces and even some it does not. He described the decision as "unheard of in international trade" and "a moral disgrace" in dealings between nations.
- The United States will retaliate by imposing a 100% tariff on Chinese goods.
- Export controls will be applied on critical software.
Author's summary: Crypto market declines after Trump's tariff announcement.