CoinDesk Podcast Network U.S.-China Tensions Explode Again | COINDESK DAILY
Jun 2, 2025
U.S.-China trade tensions are heating up again, with new tariff fears sending shockwaves through global markets. President Trump’s decision to double tariffs on steel and aluminum and impose restrictions on AI chip exports has triggered strong retaliatory threats from China. This turmoil has not only affected traditional markets but has also caused significant volatility in the cryptocurrency space. A notable trader suffered considerable losses, illustrating the high risks involved in this chaotic environment.
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Crypto Markets Show Resilience
- Dogecoin, XRP, and Seoul market indicators show signs of bottoming out amid global trade tensions.
- Renewed U.S.-China tariff fears dominate market narrative and affect crypto sector sentiment.
Trade War Fears Escalate
- President Trump's tariff hikes on steel and aluminum reignited fears of a trade war.
- China promises retaliation, escalating tensions and impacting global markets.
New U.S. Restrictions Heighten Tensions
- U.S. restricted AI chip exports and revoked student visas affecting China.
- China claims these actions violate a trade truce, worsening tensions.