In an effort to de-escalate the growing trade war between the United States and China, both powers began negotiations in Geneva, Switzerland. After the meeting, the leaders of both countries agreed to significantly reduce mutual import tariffs for a period of 90 days, an important de-escalation in the context of the trade war.
The U.S. Secretary of the Treasury, Scott Bessent, stated that U.S. tariffs on Chinese imports will now be reduced to 30% for 90 days, while Chinese tariffs on U.S. imports will be reduced to 10% during the same time period. The pause began on May 14.
This is a scenario that has been positive for both bitcoin and other cryptocurrencies. The pioneering digital currency has seen a slight uptick in the last seven days, reinforcing the upward trend observed since April. All of this is happening while institutional interest in acquiring $BTC grows (reaching unprecedented levels) and regulatory proposals in the United States encounter some setbacks.
Regionally, there is talk of a fiscal crackdown in Spain against cryptocurrency users, while in Argentina, companies in the sector denounce fiscal inequality and advance plans for a CBDC in Bolivia.
