Today, the cryptocurrency king has surged to $95,750, but statements regarding the trade war have left many baffled. The clear takeaway is that Trump has adopted a notably moderate stance leading up to April 2nd, Liberation Day. Amidst this confusion, who is speaking the truth?
China and U.S. Statements
Trump claimed that Chinese President Xi Jinping reached out to him, asserting that 200 agreements have been signed. However, he did not clarify the nature of these agreements, which countries were involved, or any other critical details. White House officials had previously indicated that discussions were progressing with 15 countries.
“You need to understand, I am working with all companies and very friendly countries. We are speaking with China. We get along with everyone. But ultimately, I made all the deals.” – Trump
Regarding his conversation with Xi, Trump stated, “he called me. I do not think this is a sign of weakness on his part,” contradicting today’s Chinese statements. Just before Trump made these comments, the U.S. Embassy in China stated, “they are making confusing statements; we are not in talks regarding tariffs.”
Cryptocurrencies May Rise
In his comments today, Trump mentioned that he has completed 200 trade agreements with countries worldwide. This is positive because, with the formal and detailed announcement of these agreements, we may witness further increases in cryptocurrencies.
When asked again today if he had spoken with Xi while departing Washington to attend the Pope’s funeral, Trump replied, “I have spoken many times.”
When questioned about the content of his discussions with Xi, Trump remarked:
“This is a huge, beautiful store, and everyone wants to shop there. As the owner on behalf of the American people, I set the prices and I say, if you want to shop here, this is the amount you need to pay.”
In recent remarks, he noted, “sooner or later, they will call us,” indicating a potential positive development that could support cryptocurrencies from the Chinese side.
Recent statements from Chinese officials suggested that a preliminary agreement should mature before a presidential-level meeting. What cryptocurrency enthusiasts now await are concrete steps, detailed trade agreement disclosures, and announcements with a more conciliatory tone. All of these factors should yield the opposite impact on markets compared to the unsettling news and high-level comments surrounding April 2nd. In summary, we can expect to see more upward movement in cryptocurrencies.
