Trump announced a 100% tariff on Chinese goods taking effect next month, increasing trade pressure.
US stocks fell, Bitcoin dropped 9%, altcoins fell over 50%, while ETFs remained largely unaffected.
Source: Shutterstock
President Donald Trump posted a statement on Sunday
suggesting a potential easing of trade tensions between the US and China, while
issuing a veiled warning to Chinese President Xi Jinping.
US stocks fell on Friday following the tariff threat. The
announcement also triggered extreme volatility in crypto markets. The proposed
tariffs on Chinese imports led to the largest single-day liquidation in crypto
history, with over $19 billion in perpetual futures positions liquidated across
exchanges.
Institutional investors appeared largely unaffected. Spot
Bitcoin ETFs recorded minor net outflows of $4.5 million, while BlackRock’s
IBIT ETF saw inflows of $74.2 million and recently surpassed 800,000 BTC in
assets under management.
“Friday’s reaction shows the crypto market is extremely
sensitive to geopolitical developments, but the resilience of institutional
investors highlights growing maturity in the market,” Simon Peters, Crypto
Analyst, eToro, said.
“While retail traders were heavily impacted, ETFs like IBIT
show that professional money is holding steady, which bodes well for recovery,” he explained.
Trump Warns Xi, Announces Tariff Increase
“Don’t worry about China, it will all be fine! Highly
respected President Xi just had a bad moment. He doesn’t want Depression for
his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!”
he wrote on Truth Social.
The statements came after Trump increased tariff and trade
pressure on Beijing on Friday, announcing on Truth Social that the US would
impose an additional 100% tariff on Chinese goods starting November 1, 2025.
BREAKING: Trump has just said: Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!! pic.twitter.com/Uq922Esh55
The announcement followed China’s move to implement new
export controls next month, which Trump described as “extraordinarily
aggressive” and a “moral disgrace in dealing with other
nations.” He added that the timeline of the 100% tariff could be
accelerated depending on China’s response. Export controls targeting China's
access to “critical software” were also scheduled to take effect the
same day.
Earlier Friday, Trump had threatened a “massive
increase” in duties on Chinese goods and suggested he might cancel a
planned meeting with Xi Jinping. He cited recent Chinese curbs on rare earth
mineral exports, new port fees on US ships, and an antitrust investigation into
Qualcomm as evidence of a “very hostile” stance. Beijing also halted
purchases of US soybeans, affecting US farmers.
Current US tariffs on China, which in some cases approach
145%, are on hold until November 10 as negotiations on a larger trade deal
continue. Chinese tariffs on US goods had risen to 125% before the pause.
President Donald Trump posted a statement on Sunday
suggesting a potential easing of trade tensions between the US and China, while
issuing a veiled warning to Chinese President Xi Jinping.
US stocks fell on Friday following the tariff threat. The
announcement also triggered extreme volatility in crypto markets. The proposed
tariffs on Chinese imports led to the largest single-day liquidation in crypto
history, with over $19 billion in perpetual futures positions liquidated across
exchanges.
Institutional investors appeared largely unaffected. Spot
Bitcoin ETFs recorded minor net outflows of $4.5 million, while BlackRock’s
IBIT ETF saw inflows of $74.2 million and recently surpassed 800,000 BTC in
assets under management.
“Friday’s reaction shows the crypto market is extremely
sensitive to geopolitical developments, but the resilience of institutional
investors highlights growing maturity in the market,” Simon Peters, Crypto
Analyst, eToro, said.
“While retail traders were heavily impacted, ETFs like IBIT
show that professional money is holding steady, which bodes well for recovery,” he explained.
Trump Warns Xi, Announces Tariff Increase
“Don’t worry about China, it will all be fine! Highly
respected President Xi just had a bad moment. He doesn’t want Depression for
his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!”
he wrote on Truth Social.
The statements came after Trump increased tariff and trade
pressure on Beijing on Friday, announcing on Truth Social that the US would
impose an additional 100% tariff on Chinese goods starting November 1, 2025.
BREAKING: Trump has just said: Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!! pic.twitter.com/Uq922Esh55
The announcement followed China’s move to implement new
export controls next month, which Trump described as “extraordinarily
aggressive” and a “moral disgrace in dealing with other
nations.” He added that the timeline of the 100% tariff could be
accelerated depending on China’s response. Export controls targeting China's
access to “critical software” were also scheduled to take effect the
same day.
Earlier Friday, Trump had threatened a “massive
increase” in duties on Chinese goods and suggested he might cancel a
planned meeting with Xi Jinping. He cited recent Chinese curbs on rare earth
mineral exports, new port fees on US ships, and an antitrust investigation into
Qualcomm as evidence of a “very hostile” stance. Beijing also halted
purchases of US soybeans, affecting US farmers.
Current US tariffs on China, which in some cases approach
145%, are on hold until November 10 as negotiations on a larger trade deal
continue. Chinese tariffs on US goods had risen to 125% before the pause.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
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-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
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-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
