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Bitcoin U.S. President Donald Trump and Chinese President Xi Jinping reached a long-awaited understanding on Thursday that could reshape the global trade landscape. Following their first in-person talks since 2019, held in Busan, South Korea, both leaders agreed to lower tariffs and strengthen cooperation on key economic and security fronts. The meeting concluded with Trump announcing a reduction in tariffs on Chinese imports—from 57% to 47%—including a sharp cut in levies on fentanyl precursor chemicals from 20% to 10%. In return, Beijing committed to stricter enforcement against illicit fentanyl exports, resumed large-scale U.S. soybean purchases, and guaranteed continued exports of rare earth materials critical to high-tech industries. Trump praised the meeting as “12 out of 10,” calling it a turning point in U.S.–China relations. Trade Relief, Market Caution Despite the breakthrough, global markets reacted cautiously. Asian indexes fluctuated as the details emerged, with the Shanghai Composite falling from a decade high and U.S. soybean futures dipping slightly. Analysts suggested that the deal was largely anticipated, limiting the market’s reaction.“Investors were hoping for a full removal of fentanyl-related tariffs,” said Kyle Rodda of Capital.com. “That explains the muted price action.” The agreement, sealed during the APEC summit, also postpones the U.S. plan for 100% tariffs on Chinese goods and delays China’s proposed export restrictions on rare earth elements—a vital step for industries from electric vehicles to defense manufacturing. Only India and Brazil remain under higher tariff rates among major U.S. trade partners. After the Fed’s Rate Cut: What This Means for Crypto The diplomatic breakthrough comes just one day after the Federal Reserve ended its quantitative tightening (QT) cycle and delivered a long-expected rate cut. Together, the easing of trade tensions and the Fed’s dovish turn could inject fresh liquidity into global markets—conditions that historically favor risk assets like Bitcoin and…

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Filed under: News - @ October 30, 2025 7:23 am