U.S. President Donald Trump has announced a potential 155% tariff on Chinese goods starting November 1, unless a new trade agreement is reached. This announcement came after a meeting with Australian Prime Minister Anthony Albanese, where an $8.5 billion critical minerals deal was signed to reduce dependency on Chinese supply chains. Trump also plans to meet Chinese President Xi Jinping at the APEC summit in South Korea later this month. The tariff threat, coupled with new export restrictions, led to a significant market reaction, resulting in over $19.33 billion in crypto liquidations within 24 hours, as reported by CoinGlass. Bitcoin and Ethereum experienced notable declines, with Bitcoin falling to approximately $107,800 and Ethereum dropping below $3,900.