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On Friday (May 9th), the US Dollar Index remained stable at 100.64, with hot money flowing into Bit as it broke through $103,000. A surprising turn in the US-China tariff war emerged, with US President Trump hinting at a potential reduction in tariffs on China to 145%. US media even predicted a possible reduction to as low as 50%, but this was refuted by the White House. Trump announced a trade agreement with the UK as expected, but due to maintained 10% tariffs, market enthusiasm was limited.
Trump: Possibility of US-China Tariff Reduction to as Low as 50%?
On Thursday, Trump stated he expects substantial trade negotiations between the US and China this weekend, predicting a potential reduction of the 145% punitive tariffs on China.
These remarks were made while announcing details of the new US-UK trade agreement, signaling a potential easing of relations between the two largest economies. Previously, the US and UK were deadlocked on tariffs and trade issues. After more than two months of strained relations, both sides announced they would send high-level officials to Switzerland for talks this weekend.
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