According to @KobeissiLetter, China’s exports contracted 1.1% year over year in October, the first decline in eight months and a sharp miss versus the expected +2.9% increase (source: @KobeissiLetter). According to @KobeissiLetter, shipments to the US plunged 25.1%, marking a seventh consecutive monthly drop, while exports to the EU rose just 1.0% (slowest since February), with South Korea, Russia, and Canada all seeing double-digit declines and the rest of the world up 3.1% partially offsetting weakness (source: @KobeissiLetter). According to @KobeissiLetter, export momentum is fading, putting a cautionary tone on risk sentiment that crypto traders may watch for potential volatility in BTC and ETH during Asia trading hours (source: @KobeissiLetter).

According to Balaji, tariffs are not beneficial for the US as they primarily protect the home market but have limited impact since China exports only about 16% of its goods to the US. Balaji suggests that deregulation could be a more effective strategy than implementing tariffs, highlighting the ineffectiveness of tariffs like Trump's 10% on significantly impacting China's export strategy.

According to Balaji (@balajis), only 16% of China's exports are directed towards the US. This information could impact the cryptocurrency markets as China might focus more on other international markets, potentially affecting global trade dynamics and currency flows, influencing cryptocurrency trading patterns.