The Geneva truce implied that the US reduced its tariffs to the Asian giant from 145% to 30%.
From China they also accuse the United States of breaching what was promised in a call.
The Chinese government accused the United States of seriously violating “the commercial truce achieved last month in Geneva by breaking its plan to reduce tariffs on imported products. Given this new climbing in the conflict, financial asset investors, including Bitcoin (BTC) and cryptocurrencies, are alert.
Beijing said that recent US measures, such as suspending the sale of software to design chips, warnings against the use of Huawei technology, and the cancellation of visas for Chinese students, constitute violations of the Geneva Agreement. These actions have been interpreted by China as hostile acts that put the advances achieved at risk.
The China Ministry of Commerce too affirmed That the United States violated the commitments assumed in a phone call in January, between President Xi Jinping and his American counterpart Donald Trump.
The statements occurred after Trump accused China of “having completely breached” his word. Although it was not entirely specific, suggested that the Asian giant broke the negotiated truce during May. Later, in that line, the US commercial representative, Jamieson Greer, clarified That the country governed by Xi Jinping has not eliminated certain trade restrictions.
Within the framework of Temporary agreement Reached in Geneva, the United States reduced tariffs on Chinese products from 145% to 30%, while China did the same, lowering theirs from 125% to 10%. This truce brought some relief to markets, including that of cryptoactive.
Bitcoin owners had seen at their price visit the USD 74,000 area in April, as a consequence of the tensions unleashed from Washington. Although, with the attenuation after the tensions, the asset reactivated the rise until marking a new historical maximum in the 111,000 in May.
Despite the increase in tensions, Some US officials suggested that there is still room for dialogue. For example, the Treasury Secretary, Scott Besent, declared that a new contact between Trump and XI could help solve the pending issues, although he did not specify when it would happen. For his part, the director of the National Economic Council, Kevin Hassett, said that both leaders are willing to speak in the next few days.
From the Chinese side they insist that negotiations must first advance at the technical level and among officials, before climbing any decision at the presidential level.
Commercial tension and cryptoactive market grows is on alert
The intensification of the conflict between the US and China was also more evident with the White House announcement on Sunday about the increase in imported steel and aluminum tariffs, which will go from 25% to 50% from this Wednesday. Trump presented This measure as part of its strategy to strengthen the national industry and reduce dependence on Chinese products, despite the delicate moment that bilateral relations are going through.
On the other hand, in the last hours it transpired that the US Government has intensified its offensive, urging multiple countries to present its best commercial proposals before this Wednesday, June 4, a date that could mark a new turning point in its tariff policy, as cryptootics reported.
These negotiations are observed carefully by sectors such as cryptoactive ones, since a possible failure in the agreements could generate greater volatility in the markets and affect the performance of Bitcoinwhich currently ranges 106,000 dollars.
