#TrumpTariffs
Chinese Minister: U.S. and China agree on a trade framework.
On Tuesday, China's Vice Minister of Commerce, Li Chenggang, stated that both parties have reached a preliminary agreement to resolve trade disputes through mutually beneficial cooperation.
Both parties held "frank and deep conversations" during the negotiations in London, Chenggang told the Chinese media outlet Chinadaily.
These developments could be a significant relief for cryptocurrency investors, as Trump's reciprocal tariffs were considered the biggest macroeconomic threat to both traditional stock markets and cryptocurrencies in 2025.
Bitcoin briefly fell to an annual low of USD 74,434 on April 7, five days after Trump announced his reciprocal tariffs on imports on April 2, causing the S&P 500 to lose over USD 5 trillion in value, its largest drop to date.
The uncertainty surrounding the tariffs also affected venture capital (VC) investor appetite, with VC deals in cryptocurrencies dropping to 62 investment rounds in May, marking a monthly low for 2025, according to Cointelegraph.
The slowdown was attributed mainly to a "combination of market prices and confidence," as both were impacted by the "deterioration of tariff rhetoric," according to Aurelie Barthere, lead research analyst at the crypto intelligence platform Nansen.
