Mayur MohtaAfter Donald Trump announced a 100% extra tariff on Chinese goods, the crypto market plunged sharply. Bitcoin and Ethereum prices tumbled as global investors faced heavy losses.
Trump’s 100% Tariff Shakes Global Market
US President Donald Trump unleashed another tariff shock early this morning, this time targeting China instead of India. Trump declared a 100% additional tariff on imports from China, sparking turmoil across global markets. The announcement sent tremors through the crypto world as Bitcoin prices nosedived, wiping out investor wealth worth over ₹1.7 lakh crore in a single day.
Trump’s Big Announcement On Trade Policy
Posting on his Truth Social platform, Trump revealed that starting November 1, 2025, the US would impose an additional 100% tariff on Chinese goods, on top of existing duties. He also confirmed that export controls on all major software will begin the same day. Trump claimed this step is necessary because China plans to enforce widespread export restrictions on almost every product, calling it “a dangerous precedent for global trade.” Currently, the US levies 30% tariffs on Chinese imports, but with this new policy, the total duty will soar to 130%.
Crypto Market Nosedives After Tariff Announcement
The crypto world felt the heat immediately. Following Trump’s declaration, major cryptocurrencies like Bitcoin and Ethereum saw massive declines. Early today, Bitcoin fell over 10%, dropping below $110,000 before recovering slightly to $113,096. Ethereum plunged 11.2% to reach $3,878, while other digital currencies like BNB, Solana, and XRP also dropped between 14% and 18%.
Why The Crypto Market Is Reacting
The sudden fall is linked to China’s recent move to restrict the export of rare earth materials. Analysts say such a step could disrupt the US tech and auto sectors. Trump’s retaliatory tariffs are seen as a countermeasure, but investors now fear rising tension could hurt crypto mining operations and global technology supply chains. The uncertainty has triggered panic selling among traders, leading to a sharp correction in crypto asset prices.
The BRICS Times
