President Donald Trump has moved to ease tensions between Washington and Beijing with a fresh message of reassurance toward China. His statement comes as Bitcoin and other cryptocurrencies extend losses amid fears of a broader economic slowdown led by China’s weakening economy.
In a post shared on X through his Truth Social account, Donald Trump said Americans should not worry about China, insisting that “it will all be fine.”
The president praised Chinese leader Xi Jinping, describing him as “highly respected” and suggesting that recent troubles in China’s economy were only temporary.
“President Xi just had a bad moment,” Donald Trump wrote. “He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!”
The statement comes at a time of renewed concern over China’s economic slowdown and the potential spillover effects on global financial markets, including the crypto market. A sharp crypto market decline on October 10 coincided with Donald Trump’s announcement of a 100% tariff on China goods after the latter announced the same.
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