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Cryptocurrencies and the global economy are significantly influenced by the tensions between China and the United States. Concerns regarding global trade wars are escalating, necessitating that both parties reach a consensus before matters worsen. Recent softening from the Trump administration has been perceived positively, but new developments from China have emerged today.
The China-U.S. Trade War
China’s recent statements have denied claims that an agreement is nearing, which have circulated in recent days. The exaggeration of comments made by the U.S. Treasury Secretary, alongside rumors, was not the sole reason for the recent recovery in the markets. The apparent softening from Trump has also been received favorably.
In its announcement today, Beijing stated that if trade talks are desired, all unilateral tariff measures must be completely lifted. Furthermore, despite signals of softening from the Trump camp, the importance of “not having negotiations on economic and trade issues” was emphasized.
The U.S. Treasury Secretary recently commented that the trade war is unsustainable and that both sides need to reduce tensions.
He Yadong, a spokesperson for the Chinese Ministry of Commerce, stated:
“Unilateral tariff measures were initiated by the United States. If the U.S. genuinely wants to resolve the issue, it must completely lift all unilateral customs duties against China. It must also find a way to address differences through equal dialogue.”
Impact on Cryptocurrencies
China continues to express willingness to negotiate, yet Trump insists that it is China that should seek compromise. Although information about some discussions has surfaced, there have yet to be talks at the presidential level. Recently, Trump indicated that tariffs on China would be significantly less than 145% following an agreement.
Today, the Chinese Foreign Ministry stated, “Between China and the U.S., let alone reaching an agreement, there have been no discussions or negotiations regarding tariffs,” undermining the U.S. efforts to ease market concerns.
All these developments reflect the need for concrete actions and a demand for clear, actionable messages beyond mere signals. The U.S. must take a step further by genuinely starting discussions regarding tariffs with China, which would be a crucial catalyst for a strong rise in cryptocurrencies.
As this article was being prepared, Trump threatened China with default:
“China should default because it has not received the beautifully completed planes it committed to buying. This is just a small example of what China has done to the U.S. for years… Meanwhile, Fentanyl continues to flow into our country from China through Mexico and Canada, killing hundreds of thousands of our people, and it better stop, NOW!”
