In a move that marks a significant escalation in economic tensions between the United States and China, President Donald Trump confirmed that the U.S. is officially engaged in a trade war with Beijing. This declaration came after threats of imposing 100% tariffs on all Chinese imports, which sparked market reactions, including a sharp decline in Bitcoin price. The move follows an escalating conflict over rare earth materials crucial for semiconductor manufacturing and reflects Trump’s assertion that the U.S. must assert economic sovereignty and national security. This trade war could have far-reaching consequences not just for the US-China relationship but also for the global cryptocurrency market. 100% tariffs on Chinese imports will significantly impact mining operations in the United States, while the global economy remains highly susceptible to the ripple effects of a prolonged economic standoff between these two major powers.