SAEDNEWS: Trump’s Announcement of 100% Import Tariffs on China Sparks New Wave of Shock, Sending Bitcoin and Altcoins Plummeting
According to Saeed News’ cryptocurrency service, citing Mihan Blockchain, Bitcoin fell below $110,000 at the time of the report and continued down to $102,000—a level not seen in over three months.
Rapid Market Drop; Bitcoin Hits Three-Month Low
Trump stated that this decision comes in response to China’s potential export restrictions on rare earth elements, which are crucial for semiconductor and computer chip production. In a post on the social network Truth Social, he wrote that Beijing had sent a “very hostile letter” to the world, announcing its intention to impose broad export controls on nearly all of its manufactured goods starting November 1, 2025.
