New Developments in the US-China Trade War Affecting Bitcoin! Surprising Statement from China!

U.S. President Donald Trump announced customs duties for many countries, including China, at the beginning of April. Later, while customs duty rates for countries outside of China were suspended, tensions escalated with China.

As China retaliated against Trump’s tariff announcement, tariffs reached unprecedented levels.

The tariff tension between China and the USA negatively affects Bitcoin and cryptocurrencies, while negotiations have been reported to be taking place to resolve the tariff tension.

While the tariff negotiation news between the two countries supports the recovery in the cryptocurrency market, a surprising statement came from China.

According to Walter Bloomberg’s post, China denied the ongoing trade talks with the US, describing the reports as ‘baseless’.

The Chinese Ministry of Commerce denied reports regarding ongoing economic and trade negotiations with the United States.

According to a series of shares made by Walter Bloomberg, the ministry stated that there are currently no negotiations between the two countries, describing contrary claims as “having no factual basis.”

The ministry also added that if the U.S. is serious about resolving trade tensions, it should start by lifting all unilateral tariff measures imposed on China.

As these statements come from China, according to the AND-centered news agency USATODAY, Donald Trump said on April 23, in response to reporters asking whether he was in communication with the Chinese leadership, that “everything is active”.

Statements from China have affected Bitcoin and cryptocurrencies to some extent. While BTC was trading above 93 thousand dollars, it experienced a drop below 92 thousand dollars during the day. Afterward, BTC recovered and continues to trade at 92,470 dollars.