TRUMP BLAMES CHINA FOR ALLEGEDLY VIOLATING TRADE DEAL!

Donald Trump recently accused China of violating a trade deal, which has led to increased tensions in the US-China trade war. This development has had a significant impact on the cryptocurrency market, particularly Bitcoin.

Key Details:

- Trade Deal Violation: Trump stated that China violated the terms of a tariff truce agreed upon earlier this month. The deal involved the US dropping tariffs on Chinese goods from 145% to 10%, while China would roll back its retaliatory tariffs on US goods for 90 days.

Bitcoin Price Drop: Following Trump's statement, Bitcoin fell 5% from its Thursday high and is currently trading below $104,000. The cryptocurrency had initially risen after the president's statement but later plummeted due to the escalating trade tensions .

Market Impact:

Increased Volatility:The US-China trade war has introduced significant volatility into the cryptocurrency market, making it challenging for investors to predict market trends.

Economic Concerns:Renowned economist Peter Schiff criticized Trump's statement, highlighting that the president's decision to make a "fast deal" with China was to help China, not the American people. Schiff added that if China is indeed violating the agreement, the US economy could be "devastated" .

Current Situation:

Trade Talks Stalled: According to Treasury Secretary Scott Bessent, talks between the US and China have stalled, further exacerbating the trade tensions.

Tariff Implications: The current tariff on Chinese imports stands at 50%, and Trump's statement has raised concerns about potential further escalation .

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