Trump Threatens 155% Tariffs on China as Bitcoin Declines

• Trump threatens 155% tariffs on China if no trade deal is reached by November 1.
• Bitcoin drops to $104,000 as rising U.S.–China tensions unsettle global markets.
• Upcoming October 31 summit may decide fate of new tariffs and trade relations.

U.S. President Donald Trump has warned that tariffs on Chinese imports could surge to 155% if both nations fail to reach a trade agreement by November 1. The announcement follows weeks of heightened trade tension between Washington and Beijing, which analysts say continues to ripple across global markets, including digital assets.

During a bilateral luncheon with Australia’s Prime Minister, Trump said discussions with Chinese President Xi Jinping are expected within two weeks. The two leaders will meet at an October 31 summit in Asia, one day before the 100% tariff rate announced earlier this month is scheduled to take effect. The president expressed optimism that a “fair deal” could be achieved before the deadline.

Trump Reaffirms Stance on China Negotiations

Speaking to reporters, Trump emphasized that the United States seeks a balanced trade framework with China. He said China had been “respectful” toward the U.S. in recent weeks but warned that failure to finalize a deal could trigger additional measures. Trump added that China would face “big trouble” if it continued to resist negotiations, suggesting that the U.S. could also leverage other economic tools, including airplane restrictions, as part of its strategy.

The statement follows Trump’s earlier indication that the proposed 100% tariffs might not stand if progress is made before the November deadline. His remarks, as reported in our previous post, underscore the uncertainty surrounding trade relations between the two major economies.

Crypto Market Reacts to Escalating Tariff Tensions

The renewed trade pressure has weighed heavily on investor sentiment. Bitcoin’s value fell to around $104,000 last week as traders reacted to escalating policy risks and capital outflows from risk assets. Analysts link the market decline to concerns over slowing global trade and reduced liquidity, both key factors influencing crypto price movements during periods of heightened geopolitical tension.

The planned October 31 summit will likely serve as a critical moment for both governments to negotiate tariff terms. Trump’s warning of a potential 155% increase indicates that the U.S. administration remains prepared to act aggressively if talks fail. For now, markets remain cautious, watching whether the two nations can de-escalate trade pressures before the new tariffs take effect.