$BTC **US-China Trade War Eases, Global Markets Welcome Turning Point**

On May 12, 2025, the United States and China reached an agreement in Geneva, announcing the suspension of certain additional tariffs, with an overall reduction exceeding 100%, marking the first substantial breakthrough since the trade war began in 2018. This easing alleviated global supply chain pressures, with A-shares and US stocks rising in response, and the offshore RMB appreciating by 1% over the week, while safe-haven assets like gold retreated. Industries such as photovoltaics and semiconductors benefited significantly, with some production capacity potentially returning to China. However, both sides still maintain a 10% tariff baseline, and negotiations over the next 90 days will determine whether to extend the suspension or reignite tensions. Analysts believe this easing injects short-term certainty into the global economy, but long-term conflicts such as technological competition and supply chain restructuring remain unresolved.