Donald Trump has renewed his criticism of China, accusing Beijing of launching an “economic attack” by halting purchases of U.S. soybeans a move he claims betrays fair trade principles and harms American farmers.
He warned that unless China reverses course, the U.S. could respond by cutting off imports of Chinese cooking oil. The renewed tensions follow China’s decision earlier this year to shift its soybean sourcing toward South American suppliers, reducing reliance on U.S. agriculture and intensifying the trade standoff.
Global markets reacted sharply to the escalation. The CBOE Volatility Index (VIX) surged to a five-month high, reflecting growing investor anxiety about a potential resurgence of the U.S. China trade war. Equity markets across Asia and the U.S. experienced intraday swings as traders sought safer assets.
In the crypto sector, the rhetoric also reverberated. Bitcoin and other digital assets fell as traders reacted to broader market uncertainty. Analysts noted that volatility on Binance increased, with visible spikes in liquidation activity and margin calls as investors adjusted their exposure to risk assets.
According to several market observers, Trump’s remarks may be more political than economic in nature. By threatening selective bans on imports like cooking oil, the former president appears to be signaling toughness to his domestic base and testing Beijing’s response ahead of potential trade negotiations.
Still, the renewed U.S. China standoff underscores how geopolitical rhetoric can quickly ripple across both traditional and digital markets. Traders on Binance and other platforms are closely watching the next moves from Washington and Beijing, as the balance between politics and global economic stability grows increasingly fragile.
