Key Insights
- China has suspended 24% tariffs on U.S. goods for one year, easing trade tensions.
- Selected U.S. agricultural imports will have duties of up to 15% lifted.
- Bitcoin price jumped above $100,000 as crypto markets responded to the tariff news.
Crypto market in spotlight as China is set to suspend its 24% tariffs on U.S. goods for one year starting November 10, 2025. According to reports, selected agricultural imports will also see duties of up to 15% lifted.
Notably, Treasury Secretary Bessent says the U.S.-China trade relationship is stable. Market participants believe that the move could affect markets and Bitcoin.
China Suspends Tariffs to Ease Trade Pressure
In a significant move, China announced that it will suspend its 24% additional tariffs on U.S. goods, effective November 10, 2025.
According to the development, the State Council’s tariff commission revealed that the move is part of efforts to reduce trade tension with the United States.
Notably, this decision could help stabilize the trade and cryptocurrency markets, which have faced pressure from the ongoing trade conflict.
However, it is worth mentioning that the suspension does not remove all tariffs. A 10% levy remains on many U.S. goods.
Certain agricultural products, including some soybeans, will see duties reduced by up to 15%.
Traders note that U.S. soybeans are still more expensive than alternatives from Brazil due to remaining tariffs.
Reacting to this update, Treasury Secretary Bessent described the trade relationship as being in a good place.
Market watchers believe that this step could encourage confidence among investors and businesses. While it is not a full resolution, it may reduce some economic pressure.
Partial Relief Offers Cautious Optimism
Even with the tariff suspension, full relief is not achieved. A 10% retaliatory tariff continues on many goods, and some agricultural taxes remain.
Market observers see this step as easing pressure rather than completely removing barriers.
China’s state-owned company COFCO recently purchased three U.S. soybean shipments.
The move is seen as a signal of willingness to trade more with the United States. Many investors hope the U.S. will also adjust its tariffs to support market stability.
Recent meetings between U.S. President Donald Trump and his Chinese counterpart in South Korea set the stage for these changes.
Analysts noted that both sides may take further steps to resolve the trade war, which has affected global crypto markets for months.
The suspension is expected to improve market confidence and encourage trade. Investors and traders are closely monitoring the impact on commodities, equities, and cryptocurrencies.
While challenges remain, this adjustment could reduce pressure on businesses and markets in the short term.
Bitcoin and Crypto Markets Rise After the Announcement
It is important to mention that Financial markets responded quickly to China’s tariff changes.
Bitcoin had a slight increase, reclaiming the $100,000 level at $101,771. The increase comes as investors react to the easing of trade tensions that have affected risk assets for months.
The second-largest digital asset, Ethereum, also had a slight increase; it is currently trading at $3,301.68. XRP, BNB, and Solana also had a price increase.
It is worth noting that crypto market participants continue to monitor U.S.-China developments closely to assess their potential impact on prices.
In addition, market watchers believe that reduced trade pressure could help the broader market recover.
More importantly, China remains a significant player in the cryptocurrency market, despite its regulatory framework. The central bank supports the digital yuan but limits speculative stablecoins.
Bitcoin mining in China remains a significant contributor, ranking third globally behind the United States and Russia.
Market participants believe that these factors indicate China’s continued influence on cryptocurrency markets.
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