On April 23rd, in a recent statement at the White House, President Donald Trump said that his administration might adjust import tariffs applied to Chinese goods. According to Trump, the current tariff level will not be maintained at previous high levels, but will be significantly reduced in the coming period. He emphasized that although the tariffs will not drop to 0%, they will certainly be much lower than the 145% that the market once feared.
President Trump affirmed that the US will treat China fairly and positively, and expressed hope that China and other countries will move towards signing new trade agreements with the United States. He stressed that if no consensus is reached, the US is ready to build and implement agreements beneficial to itself. However, he expressed optimism that the two large economies will reach a common agreement that brings benefits to both sides.
Besides statements related to trade policy, Trump also unexpectedly changed his stance towards the US Federal Reserve (Fed). After a long period of criticism, he declared that he has no intention of firing Fed Chairman Jerome Powell, a move considered a surprising "U-turn" in US politics.
Immediately after these statements, an optimistic sentiment quickly spread across global financial markets. The US stock market rebounded strongly, with green colors covering the main indices. Meanwhile, the cryptocurrency market also recorded an impressive recovery: Bitcoin (BTC) price exceeded $93,000, while Ethereum (ETH) recovered to the $1,700 threshold.
