Progress in US-China trade talks causes market volatility
The White House announced that trade talks between the United States and China have made "significant progress." However, no official agreement has been announced, leaving investors skeptical. On May 11, the White House stated that more details would be revealed on May 12.
US Treasury Secretary Scott Bessent confirmed that the discussions were very productive but did not mention the word "agreement." US Trade Representative Jamieson Greer also referred to an agreement without providing details, raising investor concerns about the impact on the financial markets.
The cryptocurrency market and traditional assets have recovered from the price shock due to President Trump's tax measures. However, uncertainty remains due to inconsistent tax policies, making investors hesitant with risky assets such as technology stocks and cryptocurrencies.
In April 2024, at the request of the Trump administration, the US Customs and Border Protection announced a tax exemption for certain technology products, but later, US Secretary of Commerce Howard Lutnick retracted this decision. This added further uncertainty to Trump's trade policy, causing observers to worry that tariff measures could disrupt the financial markets and the broader economy.
Source: https://tintucbitcoin.com/tien-dien-tu-tang-gia-khi-hoa-ky-tq-tien-gan-thoa-thuan/
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