China Denies Tariff Talks with Trump, Shaking Crypto Confidence
The Chinese government officially rejected any recent meetings between US President Donald Trump and Chinese President Xi Jinping regarding tariffs.
The Chinese embassy issued a firm statement dismissing Trump’s previous statements about discussions between him and President Xi Jinping while causing market instability, especially within the cryptocurrency sphere.
A recent declaration from China dismissed Trump’s claims about talking with Xi about reducing trade levies despite his TIME Magazine interview where he made such statements thus momentarily boosting market sentiment.
China Refutes Talks, Escalates Trade Tensions
Bitcoin’s value reached above $90,000 after Trump’s comments, which triggered increased demand for multiple other cryptocurrencies within a generalized crypto market expansion.
The Chinese embassy distinguished these claims as baseless and argued that the United States was purposefully causing misunderstandings while still maintaining that no such conversation took place. The discrepancy between statements proves that poor communication channels, as well as active distrust, exist between these two global economic giants.
Investors demonstrate understandable uncertainty because of this situation, according to Rachel Long from CryptoVision Markets. After announcing apparent improvements, the statement becomes contradictory by denying them. The inconsistent signals from two global powers make investors deeply perplexed, their sentiment tumbling into chaos.
The ongoing trade dispute forces the United States to keep tariffs at 145% against Chinese products while China applies retaliatory tariffs of 125% against American products. Global markets operate under constant tension because of this reciprocal trade strategy, which specifically affects cryptocurrency markets.
The recent market dip has not influenced most Bitcoin experts who continue to forecast a positive future direction for cryptocurrency. The financier and author Robert Kiyosaki returned to forecast that BTC will reach between $180,000 and $200,000 during this year. Cathie Wood’s Ark Invest issued a long-term market projection stating Bitcoin could reach $710,000 by 2030.
