Trump: Imposing additional 100% tariffs on China starting November 1

Bitcoin suffered severe losses, dropping about 6% to $113,602.00, while the total market capitalization losses of cryptocurrencies exceeded $300 billion in a single day.

Ether lost about 10.60%, falling below $4,000 to $3,874.32, and Solana declined by approximately 6.49% to $204.28.

Trump announced on Friday the imposition of additional 100% tariffs on China starting from November 1.

Trump wrote on his Truth Social page: “Based on the fact that China has taken this unprecedented stance, speaking only on behalf of the United States of America and not on behalf of other countries facing similar threats, starting November 1, 2025 (or earlier depending on any additional actions or changes China may take), the United States will impose a 100% tariff on China, in addition to any tariffs currently paid. Also on November 1, we will impose export controls on any and all critical software.”