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Crypto Helps the U.S. Push Back on China’s Tech Power
By: bitcoin ethereum news|2025/05/05 17:45:01
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Trump links crypto support to reducing China’s tech influence. The U.S president suggests the U.S. should lead digital asset development. He expresses concern over China’s role in emerging technologies. President Donald Trump has reiterated his support for crypto, framing it partly as a way to prevent China from gaining control over the sector. His remarks suggest a strategic approach to limit Beijing’s growing global tech reach. Trump: Crypto Helps Counter China In an interview with NBC News, Trump linked his crypto enthusiasm directly to countering China’s influence in digital infrastructure. “ I’m a big fan of crypto because I want to keep it away from China, ” Trump told reporters. His comment reflects a broader effort to push back against China’s role in key tech sectors. These include artificial intelligence, semiconductors, and financial technologies. Related: Trump Prioritizes Resolving China Trade Spat Before Finalizing TikTok Deal Trump warned that letting rival nations lead in these areas could cede control over financial systems. “ Crypto is important. It’s new, very popular, and very hot, ” he added. He also noted cryptocurrencies seemed resilient during market downturns compared to traditional assets. Trade Talks Simmer, New Tariffs Loom While the president ruled out immediate talks with Chinese President Xi Jinping, he confirmed ongoing negotiations between U.S. and Chinese officials. Trump hinted that additional tariffs on other trade partners could be announced within weeks. In early April, the U.S. imposed a 10% tariff on most countries, alongside higher tariffs that were temporarily suspended. The administration has also levied 25% tariffs on autos, steel, and aluminum, and 145% on Chinese imports. Trump also announced plans to impose a 100% tariff on foreign-made films. He argued the measure would shield the American film industry from external “messaging and propaganda.” The move, if implemented, would place a significant cost burden on non-U.S. film producers distributing content in the American market. TRUMP Token Event Sparks Ethics Questions Separately, Trump addressed the TRUMP meme coin. The token’s price jumped 50% following news of an exclusive dinner planned for its top 220 holders on May 22. This event quickly drew bipartisan criticism in Washington. Senators Elizabeth Warren and Adam Schiff called for an investigation, citing potential “pay to play” concerns. Senator Cynthia Lummis, a Republican and known crypto supporter, also voiced unease. Related: TRUMP and MELANIA Meme Coins See Massive Selloffs: What Could This Mean? Pressed further during the interview, Trump denied financial involvement, stating he had not profited from the token. “I haven’t even looked,” he said, noting that he donated his entire presidential salary. “Should I contribute my real estate too? I don’t think so,” he added. Still, he stood by his position: “ Crypto is too important to ignore. ” Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company. Source: https://coinedition.com/i-want-crypto-if-we-dont-do-it-china-will-trump/
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