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On Apr. 17, President Donald Trump said that he wasn’t keen on hiking tariffs on China because it could halt trade between the two countries.
“At a certain point I don’t want them to go higher because at a certain point you make it where people don’t buy. So I may not want to go higher, or I may not want to even go up to that level,” Trump said. “I may want to go to less because, you know, you want people to buy.”
Trump also told the reporters in the Oval Office that officials representing the Chinese President Xi Jinping had sought to begin talks but didn’t confirm if he was in direct contact with his Chinese counterpart.
“I have a very good relationship with President Xi, and I think it’s going to continue. And I would say they have reached out a number of times,” Trump said.
Note that Trump levied “reciprocal tariffs” on all countries on Apr. 2 before pausing them for all except China on Apr. 9.
As of now, the U.S. levies 245% tariffs on Chinese imports, with China imposing 125% tariffs on U.S. imports in return.
Related: Tariff Live Updates: Trump lashes on Jerome Powell, calls for his dismissal
The tariff tensions have shaken the crypto market since Apr. 2, which Trump dubbed “Liberation Day.” His softening rhetoric on China didn’t have any positive effect on the market.
The total crypto market cap declined 1.7% within a day to $2.75 trillion. Bitcoin slipped from above the $85,300 price mark within a day to $84,500.94 at press time, as per Kraken’s price feed.
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