$BTC Breaking News:

* Preliminary trade agreement between the U.S. and China: After two days of negotiations in Geneva, Switzerland (starting from May 10, 2025), the U.S. and China announced that they have reached a preliminary trade agreement.

* "Total reconstruction" and "significant progress": President Trump referred to this as a "total reconstruction" of trade relations with China and announced "significant progress".

* Significant tariff reductions: Both the U.S. and China agreed to significantly reduce tariffs that have been imposed over the past period. The announced reduction is 115% for certain types of tariffs, while still maintaining a baseline tariff level of about 10%.