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This Week in Crypto: Fartcoin Price Surges 455% After Trump Says He May Be Open to Making a Deal With China

Cryptocurrency prices rose this week as Donald Trump appeared open to making a deal with countries like China, Japan, and South Korea. He also stated that he is not preparing to fire Jerome Powell from the Federal Reserve.

According to reports by Politico and Nikkei Asia, Trump met with officials from Japan, South Korea, and China to discuss trade and economic issues. During a meeting with Japanese Prime Minister Fumio Kishida, Trump said he was working to get a "fantastic trade deal" with Japan, aiming to reduce the trade imbalance between the two countries.

The former president also discussed cooperation on issues such as North Korea and technology with Kishida, setting a positive tone for bilateral relations.

In his meeting with South Korean President Yoon Suk Yeol, Trump highlighted the "tremendous economic partnership" between the United States and South Korea. He said he was working to create "the greatest economy that God ever created."

With Chinese officials, Trump discussed trade and economic issues, aiming to reduce the trade deficit with China and promote cooperation in areas of mutual interest.

Furthermore, Trump said he was not planning to remove Federal Reserve Chair Jerome Powell, despite rumors to the contrary.

"I like and respect Jay, and we're working closely together to get inflation down and the economy booming again," Trump stated.

The administration officials who attended the meetings also provided insights into the discussions.

A senior administration official said that during the meeting with Kishida, Trump emphasized the importance of reducing the trade imbalance with Japan and highlighted the need for cooperation on issues such as North Korea and technology.

The administration officials also noted that Trump's meetings were part of his broader effort to rally support for U.S. economic interests and forge closer ties with key allies in the region.

The stock market reacted positively to Trump's actions and statements. The Dow Jones Industrial Average rose by over 270 points this week, while the S&P 500 Index closed at its highest point since February 2. Both indices reached all-time highs in August.

The PHLX Semiconductor Sector Index, known as the "SoSo", surged by over 7% this week. It reached its highest level since February 2 after Nvidia's stock price soared due to optimism surrounding artificial intelligence (AI).

Both indices are now about 2% short of their all-time highs, which they reached in August.

Meanwhile, meme coin Fartcoin’s price surged by over 455% from its lowest level this year.

This rally has led to increased demand for Solana meme coins as investors seek the next big opportunity. TRUMP has gained 70% in the last seven days, while Dogwifhat, Pudgy Penguins, Popcat, and ai16z have spiked by over 50% in the same period.

Meme coin Fartcoin’s price surged by over 455% from its lowest level this year. This rally has led to increased demand for Solana meme coins as investors search for the next big opportunity.

The post This Week in Crypto: Fartcoin Price Surges 455% After Trump Says He May Be Open to Making a Deal With China appeared first on Web3Wire.

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The post This Week in Crypto: Fartcoin Price Surges 455% After Trump Says He May Be Open to Making a Deal With China appeared first on Web3Wire.