President Donald Trump moved to ease investor concerns over escalating trade tensions, stating today that the proposed tariff on Chinese imports "won't be anywhere near" the 145% figure previously floated.
Speaking to reporters, Trump clarified, "The tariff on China will come down substantially," and emphasized that he’s not looking to “play hardball” with China.
The comments come amid mounting anxiety in financial markets following Trump’s earlier declaration of “reciprocal” tariffs, which he announced on April 2 and dubbed "Liberation Day." That move rattled global markets and stoked fears of a renewed trade war between the world’s two largest economies.
Trump’s reassurance today sparked a sense of calm in markets, with the stock market rising “nicely,” according to him.
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The U.S.-China trade relationship has long been fraught with tension, especially under Trump’s previous administration, which saw sweeping tariffs and retaliatory measures.
The U.S.-China trade conflict, reignited in 2025, has escalated into one of the most severe economic confrontations in recent history.
Trump’s declaration of “Liberation Day” on April 2 a universal 10% tariff on all imports, with specific levies on countries like China reaching up to 145%. China retaliated with tariffs of up to 125% on U.S. goods, triggering a tit-for-tat escalation that disrupted global markets and strained diplomatic relations.
The U.S.-China trade war initially rattled global markets, including crypto, with Bitcoin dipping in early April amid tariff shockwaves. However, as tensions began to ease and Trump signaled softer tariff plans, investor sentiment improved. Traders turned to Bitcoin as a hedge against fiat uncertainty, fueling a sharp rebound. Today, Bitcoin is trading at $91,000 — its highest level since the conflict reignited — signaling renewed confidence in crypto amid geopolitical relief.