Members of the White House are set to have a meeting with top Chinese officials today in London. The meeting is expected to decrease tensions between the two nations, which have been at each other’s throats for the majority of the year regarding trade tariffs.
Talks are expected to take two days, and by Monday, we are expected to see a resolution to at least some of the tariff issues. The U.S. is reportedly expecting to get a bypass to rare earth materials, while China is pushing for concessions on semiconductor exports and broader tariff reductions on key industrial goods.
Both nations are already seeing the effects of the “Liberation Day” policies by the White House. Last week, we reported how U.S. imports saw a record-breaking decrease in activity, while China’s exports plunged 34.5% in May.
While neither party is expected to make huge concessions, a few incremental agreements could emerge, particularly around easing restrictions on specific trade sectors.
Bitcoin Pumps In Anticipation of U.S.–China Meeting
The world’s biggest currency went through a significant increase over the last hours, as investors bet on the likelihood of a favorable outcome from the high-stakes trade discussions. Bitcoin surged from $105,600 to $108,000 as markets reacted to the potential easing of trade tensions.
Currently, $BTC is trading at $108,045 — up by over 2% in the previous 24 hours. Only three days ago, the crypto had retested its $100K support zone, and now it is trading near ATH levels once again.
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