In a stunning late-day announcement, U.S. President Donald Trump declared that the United States will impose a 100% tariff on all Chinese imports starting November 1, 2025, igniting widespread panic across global markets and triggering a massive crypto sell-off.
Posting on Truth Social, Trump accused Beijing of adopting an “extraordinarily aggressive position on trade,” alleging that China had informed other nations of plans to implement sweeping export controls on nearly all goods. The President condemned the move as “a moral disgrace in international trade” and vowed immediate retaliation.
“Starting November 1, the United States of America will impose a tariff of 100% on China, over and above any tariff that they are currently paying,” Trump wrote, adding that Washington will also introduce export controls on critical software to curb China’s access to U.S. technology.
The announcement sent shockwaves through global markets, sparking one of the most abrupt sell-offs of the year. Bitcoin plunged below $110,000, erasing billions in market value before a modest rebound. Ethereum dropped under $4,000, while Solana, XRP, and other major altcoins tumbled by double digits as investors scrambled to unwind positions.
According to liquidation trackers, more than $1 billion in leveraged crypto positions were wiped out within an hour, marking one of the steepest one-hour liquidation events this quarter. Analysts compared the volatility to previous macro-driven market crashes, such as the 2018 tariff escalations and 2020 pandemic panic.
