US President Donald Trump has further escalated tensions in the ongoing trade war with China. His statement comes just after Treasury Secretary Scott Bessent revealed that talks between both countries have stalled.
Donald Trump Says China Violated Trade Agreement
In a Truth Social post, the US president stated that the bad news is that China has, perhaps not “surprisingly” to some, totally violated its agreement with his country. He added that “so much for being Mr Nice Guy.”
As CoinGape reported earlier today, the US-China trade war had escalated after Bessent confirmed that trade talks have stalled, with altcoins witnessing a sharp decline following his statement.
Now, Donald Trump’s statement threatens to put the crypto market at risk again. In his statement, the president remarked that two weeks ago, China was in “grave economic danger,” just before they reached this temporary deal.
He claimed that the very high tariffs he set made it virtually impossible for China to trade into the US marketplace, which is by far the “number one” in the world. Trump added that he saw what was happening and didn’t like it, which was why he made a “fast deal” with China to save them from what he thought was going to be a bad situation.
Donald Trump boldly claimed that, thanks to the deal, everything quickly stabilized and China returned to business as usual. Everybody was happy, but then they went ahead to violate the trade deal.
The Bitcoin price remained above $105,000 following his statement. The flagship crypto had already dropped below this level earlier in the day.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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