President Donald Trump has announced a reduction in tariffs on Chinese goods, marking a significant shift in U.S.-China trade negotiations. This move was reached after talks in Geneva, Switzerland, and it’s hoped this reduction will ease existing trade tensions. While the tariff cuts aim to stabilize the economic landscape, some 10% tariffs remain in place. Cryptocurrencies have not been directly impacted by these changes. This temporary tariff reduction is part of ongoing efforts by the U.S. and China to stabilize their trade relations. The negotiation process involved President Trump and Chinese trade representatives, emphasizing a temporary agreement. Notably, Scott Bessent plays a crucial role in shaping U.S. economic policies during these discussions.