The crypto market continues to experience a drop after President Donald Trump announced a 100% tariffs on imports out of China. This would take effect beginning from November 1, 2025. The move is a response to Beijing’s aggressive export restrictions. However, it has triggered widespread selling across digital assets and deepened market losses.
Trump’s Tariff Announcement Triggers Fresh Crypto Selloff
In a statement posted on social media, Trump said China had taken an “extraordinarily hostile” stance on trade by sending a global letter outlining new export controls. He explained that the measures would affect nearly every product the country produces and even some it does not. Trump called the decision “unheard of in international trade” and “a moral disgrace” in dealings between nations.
Trump confirmed that the United States would retaliate by imposing a 100% tariff on Chinese goods and would apply export controls on critical software. The measures will take effect on November 1, 2025.
Bitcoin price had already reacted to Trump’s earlier tariff warnings, reflecting growing investor anxiety. The confirmation of the threat affected the crypto market. Bitcoin, Ethereum, and Solana all recorded further drops in prices.
However, he indicated they could begin earlier if China escalates its actions. “Starting November 1, the United States will impose a 100% tariff on China, over and above any existing tariffs,” Trump wrote.
Source: https://coingape.com/crypto-market-crashes-as-trump-imposes-100-tariff-on-china/
