The United States and China are embroiled in escalating trade tensions. The US announced plans to impose an additional 100% tariff on Chinese imports, effective by November 1, following China's restrictions on rare earth exports. China, the world's leading producer of rare earths, condemned the US for 'double standards' and criticized the aggressive trade posture, warning that US tariffs could reach 200% in some sectors. Meanwhile, President Trump indicated willingness to negotiate with Chinese leader Xi Jinping before the tariffs take effect. The US also plans to restrict exports of strategic software to China, further straining relations. Simultaneously, the crypto market experienced a historic crash, losing nearly $20 billion in value within hours. Bitcoin plummeted over 15%, temporarily falling below $105,000, after Trump announced the new tariffs and trade restrictions. This market volatility was exacerbated by fears of intensified US-China trade conflict, triggering cascading liquidations and record trading volumes. Trump’s aggressive trade measures and the recent restrictions on rare earth exports have significantly impacted financial markets, including a sharp decline in the US stock indices, with the Dow Jones falling 1.90%, Nasdaq down 3.56%, and S&P 500 down 2.71%. The developments reflect a tense geopolitical climate that continues to influence global markets.