#TrumpTariffs Merchants await details about the proposed agreement between the USA and 🇨🇳

Authorities from the USA and 🇨🇳 agreed on Tuesday to a broad framework agreement, aimed at reactivating the Geneva tariff truce, suspending China's export restrictions on rare earths and easing US export controls on semiconductors and related technologies.

US Secretary of Commerce Howard Lutnick described the issue of rare earths and magnets as "resolved" by the plan, saying that the framework adds "support to the bones" of previous Geneva agreements.

Cryptocurrency markets have remained below record highs while awaiting concrete details of the agreement. The proposed agreement still needs to be approved by the respective presidents, Donald Trump and the president of 🇨🇳

Investors are also keeping an eye on the US Consumer Price Index (CPI) report, which will be released later in the day.

A cooler-than-expected result could bolster expectations for a Federal Reserve rate cut this year, further benefiting risk assets like Bitcoin.

Subsequent details on the trade framework between the USA and Beijing will likely determine whether the recent recovery proves sustainable or if it will fail in consolidation.