Bitcoin prices rose after US President Donald Trump announced he would meet directly with Chinese President Xi Jinping next week to discuss tariffs.
White House press secretary Caroline Levitt confirmed that President Trump will meet with Chinese President Xi Jinping as part of the APEC summit in South Korea on October 30th. “President Trump is scheduled to hold bilateral talks with President Xi of the People’s Republic of China on Thursday morning local time,” he said.
The meeting comes just 48 hours before the US is scheduled to raise tariffs on Chinese imports by 100%. The two leaders last met in person in 2019 and have spoken by phone three times since Trump became president for the second time.
Trump has long argued that direct dialogue with Xi is the “best way” to resolve trade, export controls, agricultural purchases, Taiwan and other geopolitical issues. In a recent statement, he suggested that talks with Xi would lead to “good agreements on all issues.”
Bitcoin prices also rose, boosted by diplomatic optimism in the market. The largest cryptocurrency rose 3.33% in the past 24 hours to $111,212. The rate of increase in the past hour was more than 1%.
Chart showing the rise in BTC price.
White House Press Secretary Levitt also said of the recent presidential pardon granted to Binance founder Chao Changpeng, “This case was an extreme example in which President Trump exercised his constitutional authority.”
*This is not investment advice.
