Trump Doubles Down on Crypto, Framing it as a Way to Prevent China from Gaining Control

President Donald Trump has once again expressed his support for crypto, tying it partly to efforts to prevent China from gaining control over the sector.

His remarks, made in an interview with NBC News, suggest a strategic approach to limiting Beijing’s growing global tech reach.

Trump: Crypto Helps Counter China

In the interview, 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

The president went on to warn 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,” Trump added. He also noted cryptocurrencies seemed to hold up better during market downturns compared to traditional assets.

Trade Talks Simmer, New Tariffs Loom

While Trump ruled out immediate talks with Chinese President Xi Jinping, he confirmed ongoing negotiations between U.S. and Chinese officials. He also hinted that additional tariffs on other trade partners could be announced within the next few 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 went on to announce 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 that he had not profited from the token.

“I haven’t even looked. Should I contribute my real estate too? I don’t think so,” Trump added. Still, he stood by his position: “Crypto is too important to ignore.”