U.S. Cuts Tariffs on China: Can Bitcoin Bounce from the Sub-$108K Dump?
The presidents of the two strongest economies in the world met in South Korea earlier right now, which resulted in a number of tariff reductions on China.
US President Donald Trump outlined the selections made after the assembly, together with an total tariff lower from 57% to 47%. Some merchandise, similar to fentanyl, had been dropped to 10%.
BREAKING: President Trump pronounces China tariff reductions after “superb” assembly with President Xi, together with:
1. Reduced Fentanyl Tariffs to 10%, efficient instantly
2. Overall tariffs on China diminished from 57% to 47%
3. China to “focus on” chip restrictions with Nvidia…
— The Kobeissi Letter (@KobeissiLetter) October 30, 2025
Both nations will even collaborate on the conflict between Russia and Ukraine, whereas China agreed to debate chip restrictions with Nvidia. The POTUS additional revealed a 1-year settlement with Beijing on uncommon earth provides, and stated he’ll head to China in April 2026.
“On a scale of 0 to 10, I might say the assembly with President Xi was a 12,” concluded Trump.
The commerce negotiations between the two nations have severely impacted BTC’s worth in the previous. Recall the occasions that transpired when Trump introduced a brand new set of tariffs on October 10 and bitcoin’s rapid plunge from over $121,000 to beneath $110,000 on most exchanges.
Earlier right now, the asset had dumped beneath $108,000 for the first time in every week, which was relatively stunning given the Fed’s charge lower announced yesterday. Nevertheless, BTC bounced off to over $110,000 as of press time when the US-China deal information went reside.
Still, BTC’s plunge on a each day scale has liquidated greater than $360 million in bitcoin-related longs, whereas the total wrecked positions throughout the whole market are price over $800 million, in keeping with CoinGlass.
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