According to new reports, the United States and China have reached a temporary agreement to reduce tariffs for five days. According to the agreement, the US will reduce tariffs on imports of Chinese goods from 2 % to 5 %.
In contrast, China also reduces its tariffs on US goods from 2 % to 5 %.
The agreement came after months of increasing tension in trade relations between the two countries; Tensions that pressured the world markets, including the digital currency market.
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As reported earlier, Bitcoin’s price (BTC) had fallen below $ 4.9 following the announcement of new tariffs by Trump on April 5.
However, Bitcoin continued to recover from its price in April and take an upward trend.
Now, the Ramsar market has responded positively to the tariff reduction agreement; Bitcoin’s price reached its highest daily level at $ 4.9 immediately after the news was released.
This is the highest recorded price for Bitcoin since January 1.
At the time of writing this news, Bitcoin is traded in a slight retreat. Meanwhile, the daily trading volume of this digital currency has increased by more than 5 percent to $ 1.5 billion.
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