Trump Brushes Off Xi as U.S.-China Trade War Heats Up with Fresh Tariffs!
Trump escalates the U.S.-China trade war with sweeping tariffs, while China retaliates with tech sanctions and countermeasures. As tensions rise, Trump's pro-crypto stance could pressure Beijing into rethinking its strict digital asset policies.
U.S. President Donald Trump has reignited tensions with China, imposing a sweeping 10% tariff on all Chinese imports. Beijing swiftly retaliated with its own targeted tariffs on U.S. goods and placed Google under anti-monopoly scrutiny.
Despite growing concerns over global economic instability, Trump remains unfazed, showing no urgency to engage in direct talks with Chinese President Xi Jinping. When asked about China’s countermeasures, Trump simply responded, “That’s fine.”
China Hits Back with Tariffs and Tech Sanctions
As Trump’s new tariffs took effect at 12:01 a.m. ET on Tuesday, China countered with a 15% levy on U.S. coal and liquefied natural gas, along with a 10% duty on crude oil, farm equipment, and select U.S.-made vehicles.
Additionally, Beijing launched an anti-monopoly probe into Google while placing PVH Corp and Illumina on a list for potential sanctions.
Economic analysts suggest China’s response is calibrated to send a warning while leaving room for negotiations. A similar scenario unfolded in 2018 when Beijing initially adopted measured countermeasures before escalating its trade war with the Trump administration.
Trump’s Crypto Stance May Pressure China
Beyond trade, Trump’s policies on digital assets could have ripple effects on China’s regulatory approach. On November 24, 2024, Cybertecwiz reported that Trump’s push to make the U.S. a leader in cryptocurrencies could pressure Beijing to rethink its strict crypto ban. HashKey Group CEO Xiao Feng says that clear U.S. policies on digital assets might force China to reconsider its position.
With the digital economy playing an increasing role in global finance, Trump’s position could influence China’s long-term strategy, especially as competition for financial dominance intensifies.
As Trump hints at targeting Europe with tariffs and China intensifies its countermeasures, uncertainty looms over global markets. Experts warn that prolonged tensions could disrupt supply chains and create economic instability.
Meanwhile, Trump’s crypto-friendly policies could reshape China’s regulatory stance, adding another layer to the already complex U.S.-China rivalry.
