Derived from TheCCPress, U.S. President Donald Trump has confirmed a 130% tariff on Chinese goods starting November 1, escalating trade tensions with China. The move follows Beijing’s export controls on rare earths and is expected to affect global markets, including increased volatility in Bitcoin and Ethereum. Trump announced the plan via his Truth Social account, and the meeting with President Xi Jinping was canceled. The cryptocurrency community is monitoring the situation, with potential shifts toward stablecoins as safe havens.
Trump Announces 130% Tariffs on China Starting November 1, Impact on Crypto Markets
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