Trump's Tariff Bombshell: 104% on China Amid Crypto Chaos

Holy smokes, folks! Trump just threw down the gauntlet in the trade war, cranking up the heat on China with a jaw-dropping 104% tariff threat while the crypto world is biting its nails!

After China clapped back at the latest US tariff move, President Donald Trump isn't backing down. On April 7, he hit Truth Social with a bombshell: China's got until tomorrow to drop their countermeasures, or they're staring down an extra 50% tariff!

China's not playing nice either, slapping a 34% retaliatory tariff on all US goods, just like the US did to them. Now, Trump's given them a deadline: remove those tariffs by April 8, or else!

"If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th." Donald Trump

Right now, Chinese imports to the US are facing a 54% tariff, but if Trump's new threat goes live, that's gonna skyrocket to 104%! And for stuff like cars and gadgets? You better brace yourself for even steeper hikes.

Trade War Heats Up: Trump's Ultimatum to China

Since the "Liberation Day" announcement on April 2, US tariffs on foreign goods have shot up to 18.8%—the highest since the Smoot-Hawley Act of 1930. Both stock and crypto markets are freaking out!

The crypto market's been hit hard, losing a cool trillion bucks since February. Traders are spooked, fearing inflation spikes, growth slumps, and job losses thanks to these tariffs.

But hold up, it's anyone's guess how long these tariffs will stick around or what the long-term rates will be. Over at Polymarket, 59% of traders think Trump will dial back most tariffs by July. Just a day ago, those odds were only at 33%!

After Trump's tariff bombshell, Bitcoin (BTC) rocketed to a daily high of $81,119 before crashing back down to $78,321.

Some traders are crossing their fingers that Trump's tariffs are just a bargaining chip, not a permanent fixture. And guess what? Trump hinted at a possible 90-day pause on all tariffs, except for China, as trade talks keep rolling.