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$106,194 price has surged past $80,000 following statements from Donald Trump, coinciding with a recovery in U.S. stock markets. The recent comments are intriguing; just yesterday, Trump suggested avoiding discussions with China, only to reverse course today. What lies behind this cryptocurrency uptick?
Cryptocurrency Surge and Trump’s Statements
While this article was being prepared, Donald Trump announced that strong negotiations are ongoing and that an agreement with China could be reached. His previous statements indicated that an additional 50% tariffs would go into effect on April 9, making his current remarks confusing and surprising. Trump stated;
“I just had a great phone call with the Vice President of South Korea. We discussed massive and unsustainable deficits, tariffs, shipbuilding, large-scale purchases of U.S. LNG, joint ventures on the Alaska Pipeline, and payments for the great Military Protection we provide to South Korea. They started these military payments during my first term, billions of dollars, but Sleepy Joe Biden canceled the deal for unknown reasons. That was a shock to everyone! In any case, both countries have the potential and borders of a big DEAL. Senior officials are currently flying to the U.S., and everything looks good. Similarly, we are also negotiating with many other countries that want to make a deal with the U.S. Like with South Korea, we are bringing up other topics that do not fall under Trade and Tariffs and getting those negotiated. “ONE STOP SHOPPING” is a nice and efficient process!!! China also wants to make a deal very much, but they do not know how to start it. We are waiting for their call. This will happen! GOD BLESS THE USA.”
He also added;
“China also wants to make a deal, very much. We are waiting for a call from China, this will happen.”
In contrast, China has lodged a complaint against the U.S. with the World Trade Organization. Recent evaluations from the Chinese Communist Party suggest that tariffs will inflict more damage on the U.S. than on China.
As U.S. markets prepare to open, there are hopes that the positivity in futures contracts will continue.
