BREAKING — The United States has just announced a temporary reduction in import tariffs on Chinese goods from 145% to 30%, applicable for 90 days. This move coincides with China also announcing a reduction in tariffs on U.S. goods from 125% to 10% during the same period.
This is seen as a rare positive signal in the tense trade relationship between the two largest economies in the world, especially as both are facing domestic economic pressures and a globally unstable geopolitical situation.
Observers believe that this temporary tax cut decision could pave the way for a more comprehensive trade agreement in the near future, especially in the context of the upcoming U.S. presidential election and China's efforts to revive its economy after a prolonged recession.
However, experts also warn that without a sustainable commitment, cutting taxes only in the short term may not be enough to resolve the core disagreements between the two sides.
Bitcoin has surpassed $105,000 immediately after the news. Major altcoins like ETH, SOL, SUI, DOT, DOGE, ADA all saw significant increases.
Update:
U.S. stock futures surged after the U.S.-China joint statement
S&P 500 futures rose 2.8%
Nasdaq 100 futures increased by 3.6%
Dow Jones futures rose 2.3%
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