In a move that could change the landscape of global trade and breathe new life into struggling markets, Stephen Miran, the Chair of the White House Council of Economic Advisers, hinted on Friday that the U.S. might be looking to cut its hefty 145% tariffs on Chinese goods in the coming weeks. This news sent shockwaves through financial markets, pushing Bitcoin (BTC) above $97,000 and sparking optimism for a return to trade stability.
During an appearance on Bloomberg TV, Miran made it clear that while he’s not directly involved in the daily negotiations, President Trump is actively working towards a deal with China and could be ready to announce something soon.
“I would be surprised if tariff rates are where they are now… within a few weeks from now,” Miran noted, adding, “The president has been very clear that he thinks that there will be a deal with China. And I think the president is right.”
A Market on Edge
This subtle but significant signal from a top economic adviser suggests that de-escalation may be on the table. That would be a welcome pivot after months of uncertainty stemming from Trump’s aggressive tariff policy, which strained U.S.-China trade and rattled investor confidence.
China’s Ministry of Commerce responded cautiously, saying it is still evaluating the situation. But behind-the-scenes talks appear to be ongoing, even if no formal summit is yet scheduled.
“Talking is better than not talking,” Miran added, suggesting the channels remain open.
Bitcoin Reacts Swiftly
Crypto markets — often sensitive to macroeconomic uncertainty — responded instantly. Bitcoin surged back above $97,000, eyeing the symbolic $100,000 resistance level. Just a month ago, panic selling had dragged the leading cryptocurrency down to nearly $75,000.
Market sentiment now appears to be improving, driven by the hope of a trade thaw and speculation that easing tariffs could increase institutional and international capital flow.
Broader Trade Implications
Miran’s remarks also hinted that U.S. trade policy may expand beyond China. He floated the possibility of new purchase agreements, like the Phase One deal signed in 2020, and acknowledged Europe’s growing willingness to buy more American goods as part of broader trade rebalancing efforts.
“Each partner has unique dynamics,” he said, “but purchase mechanisms should definitely be on the table.”
Still, Miran offered no confirmation of upcoming calls or specific terms. That ambiguity leaves markets with more hope than hard evidence, though in an era of rapid policy swings, even a shift in tone is enough to sway prices — especially in crypto.
What’s Next?
- For Bitcoin: All eyes remain on the $100K resistance level. If a trade breakthrough is confirmed, expect renewed bullish momentum and fresh all-time highs.
- For global markets: Investors will be watching for official trade announcements, tariff schedules, and responses from China in the days ahead.
- For retailers and importers: A rollback of tariffs could significantly reduce costs, especially after the removal of the “de minimis” exemption disrupted small-parcel e-commerce from China.
