US and China Agree to 90-Day Tariff Reduction, Boosting Bitcoin Price
The Bitcoin price has been affected by tariff wars initiated by US President Donald Trump. After tariffs on Chinese goods increased, Bitcoin's value fell below $80,000. Recent developments indicate a potential end to these tariffs.
White House Announces Tariff Reduction
In April 2025, Trump announced a 145% tariff on Chinese goods, triggering market panic. A subsequent announcement included a 90-day pause on tariffs for most countries, positively impacting the market and aiding Bitcoin’s recovery above $100,000.
Trade talks between the US and China are ongoing. A recent statement from the White House confirmed an agreement to suspend 24 percentage points of tariffs for an initial period of 90 days, allowing time for further discussions.
Potential for Bitcoin Price Surge
The current rally in Bitcoin is fueled by favorable tariff news. The US-China agreement requires tariff reductions to be implemented by May 14, 2025, potentially leading to another price increase. With no negative tariff news expected for at least three months, investor confidence in risk assets like Bitcoin may grow, possibly pushing its price above $110,000 soon.
