U.S. President Trump stated that he has no intention of firing Federal Reserve Chairman Powell and will not take a hardline stance in any trade negotiations with China. The three major U.S. stock indexes surged, and Bitcoin regained favor with investors, reaching 93K this morning, hitting a new high since early March. ETH shook off its recent slump, rising strongly by 11%, returning above $1,700.
According to Bloomberg, U.S. President Trump stated on Tuesday that amid the escalating trade dispute between the U.S. and China threatening the health of the world's two largest economies, he will be "very nice" to China. Meanwhile, U.S. Treasury Secretary Mnuchin said at a closed-door investor summit that the tariff deadlock with China cannot continue like this, and both sides must find a way to ease the situation.
