{"id":13662,"date":"2025-10-17T15:58:11","date_gmt":"2025-10-17T15:58:11","guid":{"rendered":"https:\/\/bitunikey.com\/news\/trump-justifies-china-tariffs-as-crypto-market-crashes\/"},"modified":"2025-10-17T15:58:17","modified_gmt":"2025-10-17T15:58:17","slug":"trump-justifies-china-tariffs-as-crypto-market-crashes","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/trump-justifies-china-tariffs-as-crypto-market-crashes\/","title":{"rendered":"Trump justifies China tariffs as crypto market crashes"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Crypto markets crashed as Trump reaffirmed 100% tariffs on China, despite admitting they are \u201cunsustainable.\u201d<\/p>\n<div id=\"cn-block-summary-block_6be10613f82ecc65e60c8ee8541ac89b\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Crypto markets fell more than 5% amid ongoing trade tensions between the U.S. and China<\/li>\n<li>Donald Trump justified 100% tariffs on China, despite admitting the figure is unsustainable<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>New U.S. tariffs on China sparked renewed global risk aversion, hitting crypto assets hard. On Friday, Oct. 17, Bitcoin fell 5%, adding to a 13% weekly loss. At the same time, the total crypto market cap fell 5.75%, while the top 20 crypto assets dropped about 5%.<\/p>\n<p>The market downturn coincided with U.S. President Donald Trump\u2019s latest comments justifying the 100% tariff on Chinese imports. While admitting that the additional 100% levy was unsustainable, he blamed China.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIt\u2019s not sustainable, but that\u2019s what the number is,\u201d Trump said about the 100% tariffs on China. \u201cThey forced me to do that,\u201d he <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/trump-says-100-tariffs-china-not-sustainable-2025-10-17\/\" target=\"_blank\" rel=\"nofollow\">said<\/a> in a Friday interview. <\/p>\n<\/blockquote>\n<p>Earlier, Trump expressed mild optimism regarding trade talks with China. He also confirmed he would meet with Chinese President Xi Jinping in two weeks during a conference in South Korea.<\/p>\n<p>The escalation of the trade war, alongside further export controls on critical software, was a reaction to China\u2019s expansion of export controls for rare earth minerals. These minerals are critical for U.S. industry, especially the tech sector. At the same time, China relies on imports of advanced microchips from U.S. ally Taiwan.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Trump\u2019s tariff spooks crypto markets<\/h2>\n<p>A 100% U.S. tariff on Chinese imports is a major disruptor of the global economy. Experts, including those at the Federal Reserve, expect significant negative impacts on economic growth, inflation, and employment.<\/p>\n<p>For this reason, high-growth assets such as tech and crypto declined amid ongoing tensions. Meanwhile, gold reached its highest levels yet, trading at $4,250 per ounce.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto markets crashed as Trump reaffirmed 100% tariffs on China, despite admitting they are \u201cunsustainable.\u201d Summary Crypto markets fell more than 5% amid ongoing trade tensions between the U.S. and&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=13662"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13662\/revisions"}],"predecessor-version":[{"id":13663,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13662\/revisions\/13663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/2903"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}