{"id":474366,"date":"2025-04-12T12:38:27","date_gmt":"2025-04-12T11:38:27","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=474366"},"modified":"2025-04-12T12:46:51","modified_gmt":"2025-04-12T11:46:51","slug":"we-dont-care-states-chinese-official-upon-latest-escalation-of-trumps-tariffs","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/we-dont-care-states-chinese-official-upon-latest-escalation-of-trumps-tariffs\/","title":{"rendered":"\u2018We don\u2019t care,\u201d states Chinese official upon latest escalation of Trump\u2019s tariffs"},"content":{"rendered":"

As China reacts to the latest round of Trump's tariffs on Friday, announcing a 125% tariff<\/a> on all American goods, vice president of the Beijing-based Center for China and Globalization, Victor Zhikai Gao, commented<\/a>:<\/p>\n

“We don't care! China has been here for 5,000 years. Most of the time, there was no U.S., and we survived.\u201d<\/p><\/blockquote>\n

When pointed out that China \u201cwill lose the U.S. market,\u201d which accounts for 15% of all trade, he added:<\/p>\n

\u201cIf the United States wants to bully China, we will deal with a situation without the United States, and we expect to survive for another 5,000 years.\u201d<\/p><\/blockquote>\n

China\u2019s retaliatory tariff hike came shortly after President Donald Trump raised tariffs on Chinese imports to 145%, escalating an already tense trade conflict between the two global superpowers. Trump\u2019s tariffs have already had profound effects<\/a> on international financial markets, with major stock indices experiencing significant losses since \u2018Liberation Day\u2019 on April 2, with slight recoveries reported on Friday afternoon.<\/p>\n

Trump\u2019s tariffs pushing countries closer to China<\/h2>\n

While many economists fear Trump\u2019s tariffs will cause a global recession<\/a>, others are keeping their eyes on Beijing\u2019s next move with Taiwan. International relations professor Zhiqun Zhu, from Bucknell University in Pennsylvania, commented<\/a>:<\/p>\n

\u201cIf the current tariff is sustained, and China is able to weather this difficult period, it will definitely boost Beijing\u2019s confidence in facing potential Western sanctions in a future cross-strait war.\u201d<\/p><\/blockquote>\n

Like most nations, the United States does not officially recognize Taiwan as an independent country. However, Washington opposes any unilateral actions that alter the current status quo, remaining committed to supplying arms to support Taiwan\u2019s self-defense capabilities.<\/p>\n

Meanwhile, European Union leaders reportedly<\/a> plan to travel to Beijing for a summit with Chinese President Xi Jinping in late July. The news comes after Spain\u2019s Prime Minister Pedro Sanchez called<\/a> for Europe to forge closer ties with China in the face of Trump\u2019s tariffs, calling Beijing a \u201cpartner of the EU.\u201d<\/p>\n

Capital flight into Bitcoin<\/h2>\n

During mounting geopolitical tensions and market volatility, CryptoSlate has reported that Bitcoin<\/a> is increasingly being seen as a market hedge<\/a>. Its price has held relatively steady while stock markets have plummeted, highlighting a significant decoupling of Bitcoin and stocks and Bitcoin as a \u2018risk-on\u2019 asset.<\/p>\n

One theory is that China may devalue the national currency, the yuan. If the PBOC (People\u2019s Bank of China) takes this move, BitMEX founder Arthur Hayes<\/a>\u00a0believes the capital will flow into Bitcoin. He commented<\/a>:<\/p>\n

\u201cCNY deval = narrative that Chinese capital flight will flow into $BTC. It worked in 2013, 2015, and can work in 2025.\u201d<\/p><\/blockquote>\n

Quantitative easing, otherwise known as \u201cmoney printing,\u201d is another action that has typically seen Bitcoin and crypto markets benefit from the excess liquidity.<\/p>\n

According to Watcher Guru, a top Fed official stated late Friday that the Federal Reserve is \u201cready to help stabilize the market if needed,\u201d to which Hayes replied<\/a>:<\/p>\n

\u201cAnd that\u2019s a wrap folks. Buy everything!\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

As China reacts to the latest round of Trump’s tariffs on Friday, announcing a 125% tariff on all American goods, vice president of the Beijing-based Center for China and Globalization, Victor Zhikai Gao, commented: “We don’t care! China has been here for 5,000 years. Most of the time, there was no U.S., and we survived.\u201d […]<\/p>\n","protected":false},"author":230,"featured_media":474374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,77968,77911],"tags":[80032,80167,79558],"post_folder":[],"acf":[],"yoast_head":"\n\u2018We don\u2019t care,\u201d states Chinese official upon latest escalation of Trump\u2019s tariffs<\/title>\n<meta name=\"description\" content=\"As China imposes 125% duty in retaliation to Trump's tariffs, experts weigh in on the global impact and what it means for Bitcoin and crypto.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/we-dont-care-states-chinese-official-upon-latest-escalation-of-trumps-tariffs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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