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. 🚨 JUST IN: President Trump declares the United States is in a TRADE WAR with China"We're in one now!""We have 100% tariffs.""If we didn't have tariffs, we would have no defense. They've used tariffs on us."pic.twitter.com/o360DtdsaQ — Eric Daugherty (@EricLDaugh) October 15, 2025 A social media post from Trump last Friday threatening the tariffs sparked a crypto market crash that saw Bitcoin (BTC) fall from around $121,560 to below $103,000 over several hours.Trump said he would impose a 100% tariff on China after China tightened its export controls on rare earth minerals that are essential for building computer chips.Trump’s latest comments haven’t triggered a significant market selloff, with Bitcoin up 0.1% over the last hour, CoinGecko data shows. This is a developing story, and further information will be added as it becomes available.