"President Donald Trump posted on Truth Social today that China has announced "aggressive" and "unprecedented" export controls on nearly all products, affecting all countries starting November 1, 2025. In response, Trump said the U.S. will impose a 100% tariff on Chinese goods and enforce export controls on critical software from the same date. Bitcoin price dumped as a result of the news, dumping from roughly $117,000 in early afternoon to below $108,000."
"China's tightened export controls now extend to foreign-made products that contain or were processed using Chinese rare-earths, signaling a major escalation in the trade dispute. The policy expansion - targeting defense, semiconductor, and AI sectors - sparked concerns of a global supply chain shock. Risk assets broadly tumbled today, with the S&P 500 falling 2% and the Nasdaq down 2.7%. Trump also canceled a planned meeting with Xi Jinping at APEC, vowing to "financially counter" China's move."
Bitcoin fell to the $108,000 range amid escalating U.S.-China trade tensions and tariff announcements. China announced "aggressive" and "unprecedented" export controls on nearly all products affecting all countries beginning November 1, 2025. The U.S. responded with plans for a 100% tariff on Chinese goods and export controls on critical software from the same date. Bitcoin plunged from roughly $117,000 to below $108,000, later recovering to about $113,000 with high volatility. Many cryptocurrencies dropped 20–40% and crypto-related stocks fell 3–12%. Global markets sold off, with the S&P 500 down 2% and the Nasdaq down 2.7%, raising supply-chain and sectoral risk concerns.
Read at Bitcoin Magazine
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