China Cuts Tariffs on U.S. Goods to 10%, Bitcoin (BTC) Price Reaches $104,000

China will reduce tariffs on U.S. goods to 10% from 125%, while the U.S. will cut tariffs on Chinese products to 30% from 145%, the Ministry of Finance said on Thursday.

The measures will be in place for 90 days to allow for more trade negotiations, the ministry said in a statement.

The tariffs will be reduced on products such as crab, strawberry and copper concentrate from the U.S., while the U.S. will lower tariffs on products such as mobile phones and solar panels from China.

The move comes as both countries try to resolve a trade war that has battered global markets and businesses.

The world's No. 1 and No. 2 economies imposed tariffs on billions of dollars worth of each other's goods in 2018, in a dispute that began with U.S. accusations of unfair trade practices by China.

The tariffs were later increased several times, with the two sides failing to reach a comprehensive trade deal despite several rounds of negotiations.

The tariffs have had a significant impact on businesses and consumers in both countries, and they are a major source of uncertainty in the global economy.

The reduction in tariffs could help to boost trade between the two countries and stabilize the global economy. It could also lead to lower prices for consumers in both the U.S. and China.

However, the tariffs are set to expire in 90 days, which could limit the impact of the move and raise the possibility of further trade tensions in the future.

Global equities and commodities rose on Thursday on the news of the planned tariff reductions.

Bitcoin was trading at around $104,000, continuing to hold above the crucial $103,000 level and inching closer to the $105,000 mark.

The crypto had already begun rallying ahead of this announcement, and this news could serve as fuel for the next upward leg.

Bitcoin is currently around day 915 of its typical 1,100-day bull market cycle. The biggest gains tend to occur between days 1,000 and 1,100, meaning we could be on the brink of a parabolic move if past patterns hold true.

Bitcoin's weekly MACD has flipped green — a historically bullish signal. The last time this happened was in Q4 2024, shortly before Bitcoin surged higher.

Bitcoin's weekly RSI remains far from overbought levels, hinting there’s still room for the rally to extend.

Another key development is the ongoing decline in Bitcoin dominance — a sign that traders are rotating capital into altcoins.

Memecoins, in particular, are making a comeback. Some tokens have jumped 10–30% in the last 24 hours.

This is reminiscent of the explosive memecoin-led rallies of late 2023. The question now is whether these tokens will continue leading the way in this market cycle.

The U.S. will release its CPI inflation data tomorrow, a key event that could sway both equity and crypto markets.

Meanwhile, U.S. Vice President JD Vance is scheduled to speak at a major Bitcoin conference.