Trump Tariffs: China Signals Willingness to Cooperate as Trade Tensions Send Crypto Market Plunging

Jakarta, Pintu News – Chinese Commerce Minister Wang Wentao has urged the United States to cooperate in ongoing trade negotiations, as the two countries seek to reach an agreement on Trump-era tariffs.

The escalating trade tensions between the two countries has fueled negative sentiment in the crypto market, which is currently experiencing a drop in prices.

China Urges US to Cooperate amid Talks on Trump Tariffs

In a Reuters report, China’s Minister of Commerce, Wang Wentao, stated that they hope the United States is willing to work with China to resolve issues through equal dialogue and consultation.

Read also: Whales Are Betting Against Crypto — Is a Bear Market Just Around the Corner?

Wang also added that they want the US to provide more stable expectations and conditions for companies from both countries to better cooperate.

This statement comes amid rising trade tensions between the two countries following the introduction of new Trump-era tariffs. Previously, the US President had announced a 100% tariff on Chinese products that took effect on November 11.

When asked if a prolonged trade war was possible if there was no agreement, Trump replied that a trade war was already happening between the US and China. Wang also implied that the US was the most responsible party for the escalating trade tensions.

He blamed US policies for the “recent fluctuations in economic and trade relations between China and the US.” On the other hand, the US also blames China.

US Treasury Secretary Scott Bessent recently stated that China is trying to harm the global economy through its export controls.

Crypto markets continue to weaken amid trade tensions

Trade tensions between the United States and China due to Trump’s tariffs have again put pressure on the crypto market, which is currently experiencing a significant decline. According to data from TradingView, the crypto market is down more than 2% as of October 16, with the market capitalization shrinking to $3.63 trillion.

Read also: Pi Network Has a Chance to Rise? DEX and AMM Launches Revive Utility Hopes

Bitcoin (BTC) price led this decline, falling below $108,000 from its high of around $111,000 in intraday trading. Major altcoins such as Ethereum (ETH), Solana (SOL), XRP (XRP), and Dogecoin (DOGE) also recorded significant losses.

It’s worth noting that last week Bitcoin slumped to $104,000 after Trump’s announcement of 100% tariffs against China. However, the price recovered along with the overall market earlier this week, even touching $116,000.

Meanwhile, Trump is scheduled to make an announcement today, which market participants believe is likely to address trade tensions between the US and China. There are also concerns that this trade war could escalate in the coming days.

On the other hand, the so-called “Trump Insider Whale”-who made up to $200 million in profits from short positions against Bitcoin and Ethereum just before last week’s tariff announcement-is short BTC again. This has fueled speculation that the next potential big drop may be on the horizon.

That’s the latest information about crypto. Follow us on Google News to get the latest crypto news about crypto projects and blockchain technology. Also, learn crypto from scratch with complete discussion through Pintu Academy and stay up-to-date with the latest crypto market such as bitcoin price today, xrp coin price today, dogecoin and other crypto asset prices through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, get a web trading experience with various advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Trump Tariffs: China Urges U.S. Cooperation as Trade Tensions Spark Crypto Market Crash. Accessed on October 17, 2025