US President Donald Trump warned China that it would face tariffs of up to 155% if a trade deal is not reached before November 1, according to Bloomberg reports.
> “I think China respects us a lot. They are paying us a large tariff — 55%. However, it could be 155% if there is no agreement,” Trump said at a press conference with Australian PM Anthony Albanese at the White House on Monday (20/10).
US–China tensions escalate again after Beijing restricts rare earth exports, while the US plans to add tariffs of up to 100% more on Chinese products.
Both countries are now trying to open diplomatic channels ahead of the APEC summit on October 31 in South Korea, which is likely to bring together the president of America and senior officials from China.
💬 Impact on Crypto:
If rates really go up, the global market could be shaken and investors might return to safe-haven assets like gold and Bitcoin (BTC). In several previous cycles, Bitcoin often rebounded amid geopolitical uncertainty.
In your opinion, could this threat from Trump trigger a new Bitcoin rally? 🚀
Share your opinion in the comments!
Disclaimer: Not Financial Advice (NFA). Do Your Own Research (DYOR).
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