U.S.-China Trade Agreement Reached in London, Bitcoin (BTC) Pumps to Its Highest Point This Week

The meeting between U.S. and Chinese officials taking place in London has reportedly come to a close. In a recent post on Truth.Social, President Trump

A U.S.-China meeting in London has reportedly come to an end, with officials from both countries said to be able to reach a deal that will ease tariff tensions and create a framework for cooperation.

In a recent post on Truth.Social, President Trump celebrated the completion of a U.S.-China trade framework, adding that the agreement will see the U.S. place 55% tariffs on Chinese products. A couple of weeks ago, the U.S. imposed 125% tariffs on a range of Chinese goods.

The agreement includes China supplying rare earth minerals upfront, while the U.S. will allow Chinese students to Chinese students to study at American universities. The rare earth materials have been a huge point of contention in the negotiations, as they are essential components to American industries, covering a wide range of high-tech initiatives, including electronics, defense, and renewable energy.

While this agreement certainly seems prosperous — a recent report from the WSJ indicates that China’s concessions could have an expiration date.

According to the report, China has agreed to ease restrictions on rare earth mineral exports, but only for six months. This allows Beijing to make concessions while still having leverage in the negotiations.

Crypto Market Reactions

Financial markets all across the world have been looking forward to what comes out of this meeting. As for the crypto sector, Bitcoin rose to its highest point in the week at $110,350 after the news broke this morning.

The U.S./China deal wasn’t enough to pump BTC into a new rally, however. Likely affected by selling pressure as rumours of growing tensions between Israel and Iran circulates, investors may become more risk-averse in the coming hours, and that feeling has resulted in an intra-day retraction for Bitcoin.

Currently, $BTC trades at $108,861, down by 0.47% over the last 24 hours. Bitcoin is still bullish on the weekly and monthly charts, however, trading at an increase of 3.67% and 7.01%, respectively.