As per the latest reports, Donald Trump has made an announcement after his meeting with the Prime Minister of Israel, Benjamin Netanyahu. Notably, Trump feels that China is a massive surplus nation that primarily invests its overflowing money into its military advancements. Reportedly, the US is against it as this could challenge its dominance in that sector.
Adding to this, Trump states that China is spending a major chunk on the military which is not necessary. Moreover, he says that the United States of America does not have to do this either, as he does not want anyone to spend much on the military.
Spending $500 billion or $600 billion annually on military advancement shouldn’t be an agenda as Trump had already said to President Xi that this money will most likely be never used. Notably, this statement also highlights that Donald Trump has no intentions of backing down on the ongoing tariff war.
US-China Tariff War To Lead A Global Market Crash!
The Trump tariff war escalated when China refused to bow to the United States of America and further called this act “blackmail.” Following this, China pledged to “fight to the end” as Trump threatened to shoot up the tariff to 104%. This was made following Bejing’s announcement of a “Reciprocal tariff” against the Donald Trump duties rates that was announced on 02nd April.
With this news, the world market stumbled with major stocks around the globe breaking down their multi-month supports. Over the past week, a total of over $5 Trillion has been wiped out of the stock exchanges. Furthermore, the recession rate has surged by an alarming rate, suggesting rising uncertainty.
Bitcoin and Top Altcoins Crash Within Minutes!
Over the past 24 hours, the crypto market has dropped by ~1.5% with a trading volume of over $107 billion. Moreover, the price of Bitcoin, Ethereum, XRP, & Solana have experienced a nose dip by breaking down their important support levels.
While some altcoins beat the odds, 87% of the global cryptocurrency market is currently bleeding. This indicates a rising FOMO-like situation in the crypto space.
Considering the present market sentiments, not can be precisely predicted. However, if the market fails to stabilize this week, top researchers are predicting a major price crash this month. Moreover, if the ongoing US-China tariff war doesn’t take a halt immediately, the world market could experience a crash similar to that of 1987.
Also Read: Ben Zhou Bullish on Bitcoin as Chinese Capital Faces Tariff Woes
