Crypto Markets in ‘Extreme Fear’ as China Rebuts Trump’s Additional 100% Tariff Threat

China’s Ministry of Commerce (MOFCOM) says the brand new export controls on uncommon earths are lawful nationwide safety steps – not blanket bans – and that allows can be issued for eligible civilian commerce, in keeping with a spokesperson’s Q&A. posted on X Sunday morning native time.

Uncommon earths – a bunch of seventeen components utilized in everlasting magnet motors for electrical autos (EVs) and wind generators, protection electronics and different high-tech tools – ​​play an outsized function in provide chains as China dominates the sector.

Beijing accounts for roughly 70% of world manufacturing and about 90% of processing and refining; so licensing shifts can happen downstream even when mining or remaining manufacturing takes place elsewhere.

In feedback printed simply hours in the past, the MOFCOM spokesperson framed the October 9 motion – taken collectively with the Common Administration of Customs – as a part of an extended effort to “refine” China’s export management system in keeping with home regulation and non-proliferation obligations.

The spokesperson talked about the navy relevance of medium and heavy uncommon earths and stated companions had been knowledgeable prematurely by means of bilateral export management dialogue mechanisms.

In keeping with the ministry, implementation will depend upon permits relatively than bans.

Critiques underneath the regulation can be performed, licenses can be granted if purposes qualify, and Beijing is “actively” contemplating facilitating measures – together with doable blanket licenses and license exemptions – to advertise reliable commerce.

The spokesperson additionally stated China has assessed the results of the measures prematurely and expects the broader impression on the provision chain to be “very restricted.” The message to business customers was express: compliant civilian exports “might obtain approval.”

Responding to Washington – and on the identical time leaving room for conversations

MOFCOM additionally addressed President Donald Trump’s comments from October 10, Fact Social about an extra 100% tariff on Chinese language imports (efficient from November 1, 2025) and future US export controls on ‘crucial software program’.

The spokesperson known as the U.S. place a “double commonplace,” pointing to the extent of U.S. watch lists and de minimis guidelines as examples of Washington’s expansionist method.

On the identical time, the ministry emphasised the method, saying China “doesn’t need” a commerce struggle however is “not afraid of it” and urging a return to established session channels to handle variations on a reciprocal foundation. The spokesperson stated China will take “resolute measures” to guard its pursuits if the US goes forward.

Separate feedback criticized U.S. port charges that may come into impact on October 14 on sure China-linked ships.

MOFCOM described these charges as unilateral and opposite to WTO guidelines and bilateral agreements. China, the ministry stated, will impose particular port charges on US-affiliated ships primarily based on home laws. The transfer has been characterised as a defensive countermeasure aimed toward defending the rights of Chinese language corporations and sustaining truthful competitors within the transport business.

In keeping with CoinDesk Knowledge, bitcoin was buying and selling round $111,271 as of Sunday, 9:15 a.m. UTC, down 0.5% up to now 24 hours and 10% from Thursday, October 9’s intraday excessive of $123,641. The Crypto Fear & Greed Index learn 24 – ‘Excessive Worry’ – versus ‘Greed’ every week in the past, which underlines the susceptible sentiment.