US - China Trade News: Positive Signals and Challenges
Last weekend, US President Donald Trump announced that the country has achieved a "complete reset" in trade relations with China. He stated that a conversation with President Xi Jinping is forthcoming and specifically announced that China has agreed to prevent the influx of fentanyl into the US, which is seen as a positive sign in the cooperation efforts between the two countries.
US Treasury Secretary Scott Bessent also provided important information regarding tariffs. He emphasized that the current tariff rate of 30% remains the lowest possible, while the tariff that will be applied from April 2 will be the ceiling rate. Mr. Bessent also pointed out that reducing tariffs on Chinese goods to below 10% is “unlikely,” indicating that challenges remain for future negotiations.
These developments could not only affect the US and Chinese economies but also impact global markets, including the cryptocurrency sector. Stability in trade relations between the two superpowers could boost investor confidence and help the market regain growth momentum.