In a significant step towards de-escalating the current trade conflict between the United States and China, both countries agreed to a 90-day reduction of tariffs on each other's goods.
The announcement made on May 12, 2025, includes the US reducing its tariffs on Chinese imports from 145% to 30%, while China will cut its tariffs on American goods from 125% to 10% over the same period.
The USA and China reduce tariffs, Bitcoin responds quickly
This decision came as a result of months of escalating trade tensions that disrupted global markets and strained economic relations. The crypto market also took a hit when the price of Bitcoin fell below $80,000 after President Trump's announcement of tariffs on April 2.
However, Bitcoin has strongly recovered from its April lows and continues to rise. Notably, following this announcement, the largest cryptocurrency increased by 1.4%, reaching levels not seen since January 3.#NewsTrade #BinanceSquare #TradeStories #BinanceAlphaAlert #StrategyTrade $TRUMP