The post US Treasury’s Bessent Signals US-China Trade War May Be Nearing The End appeared on BitcoinEthereumNews.com. United States Treasury secretary Scott Bessent said on Sunday that the US and China have made “substantial” progress on a trade deal framework, sparking investor hopes of reigniting the bull market. The proposed trade framework will likely remove the need for the 100% additional tariffs announced by US President Donald Trump on October 10, Bessent said. He added: “President Trump gave me a great deal of negotiating leverage with the threat of 100% tariffs on November 1, and I believe we have reached a very substantial framework that will avoid that and allow us to discuss many other things with the Chinese.” Scott Bessent breaks the news of positive trade negotiations between the US and China. Source: The White House Bessent’s comments follow weeks of easing trade tensions between the two countries, culminating in president Trump confirming the meeting with China’s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit on October 31. President Trump previously said there was “no reason” to meet with representatives from China, sparking investor fears of a new protracted trade war between the two countries. Crypto investors, traders, and industry executives celebrated news of the trade framework and the increased likelihood of a deal between the US and China, as crypto markets experienced a modest rally on the positive trade deal news. Related: Crypto traders blame Trump’s tariffs in search of ‘singular event’: Santiment Crypto markets rally as traders and investors celebrate trade framework Crypto markets are sensitive to trade war developments, rallying when news is positive and declining when trade tensions erupt or global trade is disrupted. President Trump’s social media post on October 11, announcing additional 100% tariffs on China, ignited a crypto market meltdown that saw some crypto tokens lose up to 99% of their value in 24 hours. Bitcoin (BTC)… The post US Treasury’s Bessent Signals US-China Trade War May Be Nearing The End appeared on BitcoinEthereumNews.com. United States Treasury secretary Scott Bessent said on Sunday that the US and China have made “substantial” progress on a trade deal framework, sparking investor hopes of reigniting the bull market. The proposed trade framework will likely remove the need for the 100% additional tariffs announced by US President Donald Trump on October 10, Bessent said. He added: “President Trump gave me a great deal of negotiating leverage with the threat of 100% tariffs on November 1, and I believe we have reached a very substantial framework that will avoid that and allow us to discuss many other things with the Chinese.” Scott Bessent breaks the news of positive trade negotiations between the US and China. Source: The White House Bessent’s comments follow weeks of easing trade tensions between the two countries, culminating in president Trump confirming the meeting with China’s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit on October 31. President Trump previously said there was “no reason” to meet with representatives from China, sparking investor fears of a new protracted trade war between the two countries. Crypto investors, traders, and industry executives celebrated news of the trade framework and the increased likelihood of a deal between the US and China, as crypto markets experienced a modest rally on the positive trade deal news. Related: Crypto traders blame Trump’s tariffs in search of ‘singular event’: Santiment Crypto markets rally as traders and investors celebrate trade framework Crypto markets are sensitive to trade war developments, rallying when news is positive and declining when trade tensions erupt or global trade is disrupted. President Trump’s social media post on October 11, announcing additional 100% tariffs on China, ignited a crypto market meltdown that saw some crypto tokens lose up to 99% of their value in 24 hours. Bitcoin (BTC)…