Trump confirms US is in a trade war with China
Asked by reporters whether the US is preparing for a trade war with China, US President Donald Trump responded: “Well, we’re in one now.”
Update Oct 15, 10:55pm: This article has been updated to include comments from US Treasury Secretary Scott Bessent and the impact of tariffs on the Bitcoin mining industry.
US President Donald Trump has confirmed the US is in an active trade war with China after threatening a 100% tariff on all Chinese imports last week.
“Well, we’re in one now,” Trump said after being asked by White House reporters whether the US is preparing for a “sustained trade war with China.”
”If we didn’t have tariffs, we would be exposed as being a nothing, we would have no defense,” Trump explained, calling the tariffs an important measure for America’s national security.