At the time of writing, the king cryptocurrency stands firm above $104,000 with ETH at $2,566. Altcoin investors are beginning to smile again as the uncertainty in tariffs wanes, potentially allowing the crypto world to follow its own agenda. Meanwhile, President Trump is delivering important announcements that could have significant implications.
Trump’s Constructive Dialogue with China
During the preparation of this piece, the U.S. President made significantly more positive statements regarding China. Unlike the stance on April 2nd, Trump’s ongoing declarations show a rapid thaw in U.S.-China relations. This change could indicate a potential shift in geopolitical dynamics.
“We have completely reset our relations with China. The agreement does not cover tariffs on cars, steel, aluminum, and pharmaceuticals, but it is a significant step forward. China’s commitment to openness, even if it takes some time to be realized on paper, marks a notable advancement in global trade relations.
I spoke with Tim Cook this morning, and there is a plan to establish numerous facilities in the U.S. This weekend, I will probably speak with Chinese President Xi. The best part of this agreement is that China has agreed to open up. China is suspending non-monetary barriers and has agreed to halt fentanyl production, which is a crucial move in this process,” declared Trump.
In parallel, Citi has delayed the expected Fed interest rate cut from June to July, aligning with market expectations. If tomorrow’s Consumer Price Index (CPI) data meets expectations and employment data confirms previous figures, discussions about a potential rate cut in June could resurface.
China has reduced tariffs on U.S. goods to 10% while maintaining them at 30% in the U.S. Over the next 90 days, negotiations will occur, during which many countries are expected to reach agreements with the U.S.
