On April 11, 2025, China’s State Council Tariff Commission issued an official notice announcing an increase in additional tariffs on imported US goods—from 84% to 125%. The new rate takes effect on April 12.
This move directly responds to the United States’ decision, announced on April 10, to impose a “reciprocal” 125% tariff on Chinese exports to the US.
Crypto Market Stays Calm Amid Escalating US-China Trade War
Despite escalating tensions between the world’s two largest economies, the cryptocurrency market has shown remarkable stability. Investors appear unfazed by the intensifying trade conflict.
Crypto market capitalization remains around $2.5 trillion. Bitcoin’s price holds above $81,000 after recovering 10% since April 9, when Trump announced a 90-day tariff pause, excluding tariffs on China.
According to the Chinese statement, the tariff hike follows China’s Customs Law, Tariff Law, and Foreign Trade Law. The government reaffirmed its commitment to international rules. It accused the US of violating global trade norms and called Washington’s policy “unilateral bullying.”
Notably, China warned that it would not respond to further tariff increases from the US, arguing that American goods have already lost their competitiveness in the Chinese market at the current tariff level.
“Given that US exports to China are no longer market-viable under the current tariff rate, China will not respond further if the US continues to raise tariffs on Chinese goods,” the statement said.
The tariff dispute is not new. Since 2018, the US and China have imposed retaliatory tariffs on each other. Key sectors affected include agriculture, tech, and energy.
The latest hike pushes tariffs to a record 125%. Economists warn this could disrupt global supply chains, raise prices, and add pressure to inflation in both nations.
China’s tariff hike sends a strong message about its tough stance in trade negotiations. While the crypto market remains stable for now, analysts urge investors to monitor upcoming developments—especially any potential response from the US.
If no resolution is reached, the ongoing standoff could trigger a broader economic fallout. The world is now watching to see whether the trade war will de-escalate or further entrench the divide between the two economic superpowers.
The recent OM collapse at MANTRA has left the community confused. In a series of instant drops, $5.5 billion was erased. According to several analyses, the incident was caused by one trader manipulating two exchanges.
This whole incident highlights the fragility of many token projects. Despite an ostensibly huge market cap, a comparatively tiny amount of liquidity triggered a complete collapse.
According to a new analysis, the initial trigger of the OM crash was a single trader:
“This was due to an entity(s) on Binance perpetuals market. That’s what triggered the entire cascade. The initial drop below $5 was triggered by a ~1 million USD short position being market sold. This caused over 5% of slippage in literal microseconds. That was the trigger. This seems intentional to me. They knew what they were doing,” he stated.
After triggering this initial anomaly, this OM trader continued dumping short positions at five-second intervals, which powered the overall crash. As these continual dumps continued on Binance, the OKX spot market saw a discount of nearly 20%.
This strange behavior on OKX was caused by a massive whale. A limit sell order allows the seller to specify the minimum price they are willing to sell a crypto asset for. The order will only execute if the market price reaches or exceeds the limit price. Until then, the order remains open in the order book.
This person single-handedly kept the price fixed on OKX for over a minute, causing market makers and arbitrage bots to buy the assets despite panic selling in the broader market. By this method, the perpetrator was able to dump OM tokens while the crash was underway.
The issue, then, is not that OM fell because of a nefarious actor trying to engineer a crash. Instead, the problem is that a single entity could manipulate the markets so thoroughly.
For an attack like this to work, OM’s ostensible market cap had to be substantially more fragile than anticipated.
Many people hesitating about meme coins reaching billions, or even the $100B dream target.
1) People have forgotten than majority of retail, even with good degrees and high IQ, think that a $0.00001 token is cheaper than other that is $0.10. They don’t understand market cap.
In other words, even though OM’s market cap was theoretically very high, it took a comparatively small investment to crash the RWA token like a house of cards. Some have even speculated that this trader wasn’t even trying to cause a crisis.
Rather, they may have been investors who were forced to sell due to loan terms or risk limits. Some slight manipulation could’ve led to a larger catastrophe.
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Disclaimer: The content herein does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. Please be noted that Gate.io may restrict or prohibit the use of all or a portion of the Services from Restricted Locations. For more information, please read the User Agreement.
