The White House announced that the talks between the United States and China regarding the trade agreement made “significant progress”, but at that time no official agreement was announced, leaving the investors’ doubts.
According to May 11 announcement From the White House, more details about commercial conversations and the proposed “agreement” will be disclosed on May 12.
“I am pleased to inform you that we have made significant progress between the United States and China in very important commercial conversations,” said Scott Bessent, the secretary of the treasure Scott Bessent with Jamieson Greer.
“Tomorrow we will give details, but I can say that the talks were productive,” Bessent continued, not to mention the word “deal” once in his statement.
Greer mentioned the contract, but did not provide any details about the talks, leaving investors doubt About the substance of the announcement, because market participants are still monitoring ongoing commercial tensions for signs of relief to financial markets.
Related: Bitcoin is approaching $ 100,000 when Trump intends to disclose a trade agreement with Great Britain
Trump’s tariffs cause chaos on the markets and attract universal criticism
Although customary financial and digital assets have regained and withdrew part of the value lost after the initial price shock caused by the common trade tariffs of US President Donald Trump, investors’ uncertainty is still approaching asset markets.
Trump’s administration has shifted its tariff policy, withdrawing a trade proportion course or softening their rhetoric several times, leaving investors on the edges and uncertain investing in more risky assets, such as technological actions and crypto.
https://www.youtube.com/watch?v=q980_6djfyuu
In April 2024, the United States and the Protection of Borders, at the Trump Administration, announced that selected technological products would be released from tariffs, including smartphones, processing systems, computers and other electronics.
However, the secretary of American trade Howard Lutnick withdrew except electronic tariff layoffs after announcement.
Lutnick said that the exemptions from the tariff would only be momentary until administrative officials decided on a comprehensive tariff system that contained various tariff rates for economic sectors.
The lack of a comprehensive, decisive trade policy undermined the plans of Trump’s administration, and many observers say that trading tariffs will only cause more disagreement on financial markets and a wider economy.
Warehouse: Elon Musk’s plan to lead the government on blockchain face uphill
