Crypto Prices Dip As China Escalates Trade War With US, Whales Buy The Dip
After a strong start to the week, crypto prices are in the red as China retaliates against US President Donald Trump’s trade tirade.
Chinese Commerce Ministry spokespersons have warned that the country is prepared for a “fight to the end” if a trade war with the United States escalates. On the same day, the MOFCOM announced countermeasures against five US-linked firms in response to Washington’s latest tariff actions.
The Ministry also defended China’s export controls on rare earth elements as lawful, stating that such measures are in line with international practices. Officials urged the United States to “correct its wrongdoings” and withdraw the newly imposed 100% tariffs.
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