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With Trump’s rise to power, he began implementing his promised major initiatives. For crypto enthusiasts, the results of these actions have not been favorable. As this article was being prepared, Trump made significant statements regarding the ongoing tensions with China, offering some glimmers of hope.
Ukraine and the U.S.
Trump clearly expressed his desire for half of the rich mineral resources in Ukraine and mentioned that economic agreements and actions were necessary to protect the EU. Meanwhile, the Ukrainian President declared, “our country is not for sale,” disrupting hopes for peace amid the ongoing war with Russia. Indeed, Trump is urging Ukraine to concede significant territory to Russia to resolve the issue.
As the article was being prepared, Trump stated:
“Zelenskiy should act quickly, or he will have no country left. We are working to end the Ukraine war.”
Current Situation Between China and the U.S.
The end of the war between Russia and Ukraine could support the crypto market. However, markets are also grappling with the potential for trade wars between China and the U.S., along with the likelihood of global escalation.
Today, Trump mentioned that China might import more U.S. products and that we could potentially see an agreement in this regard. Although in the 2020 agreement, China promised an additional $200 billion in purchases, this was not realized. President Xi of China is now seeking to bundle numerous issues, including nuclear safety, into one agreement.
On February 1, Trump took a significant step by imposing an additional 10% tariff on China, signaling his seriousness. While China retaliated swiftly, recent statements from China indicate that there would be no winners in this trade war.
In the coming days, a more concrete communication between China and the U.S. is anticipated. Recently, Trump provided details about an agreement favorable to the U.S. in discussions with India. He aims to replicate this with all countries to centralize production in the U.S., suggesting that the issue of tariffs could largely be resolved by shifting production to America.
We are beginning to see the effects of tariffs on inflation, and the latest data is not promising. Next week’s PCE data will be critical.
