Trump Puts China on Notice With 155% Tariff Threat Amid Australia Deal — Market Crash by November?

Core Points - U.S. President Donald Trump has threatened to impose tariffs of up to 155% on Chinese goods starting November 1 unless a new trade agreement is reached [1][2] - The tariff threats are part of a broader strategy to counter China's dominance in global supply chains, highlighted by a critical minerals agreement with Australia [1][3] - The $8.5 billion deal with Australia includes joint investments in mining and processing rare earth materials, with both nations contributing $1 billion over the next six months [4] - The announcement of tariffs and export restrictions has led to significant sell-offs in global markets, particularly in equities and cryptocurrencies [4][6] Market Reactions - Following the tariff threats, over $329.29 million in crypto positions were liquidated within 24 hours, with Bitcoin and Ethereum experiencing significant losses [5] - The liquidation event saw over 1.66 million crypto traders affected, erasing $19.33 billion in leveraged positions, marking the highest liquidation in crypto history [6] - Financial markets reacted sharply to the combination of tariff threats and new export restrictions, raising fears of a broader economic slowdown [6]