‘Deal Done’: Trump Boasts Trade Deal Triumph With China as Stocks and Crypto Climb
Jamie Redman
Markets and Prices
‘Deal Done’: Trump Boasts Trade Deal Triumph With China as Stocks and Crypto Climb
twitter-icon
Share quote to Twitter
On Wednesday, equity markets bounced back after U.S. President Donald Trump announced that officials from the U.S. and China had come to terms on a trade agreement. Bitcoin ticked up by 0.5%, and the crypto economy expanded to $3.46 trillion.
Equities Surge, Crypto Market Nears $3.5T After Trump’s Trade Power Play
Optimism spread through markets on June 11 as inflation showed signs of restraint, with the U.S. Labor Department reporting just a 0.1% increase in May’s consumer price index (CPI). To some observers, the modest uptick in inflation hints that Trump’s tariffs might be having a gentler impact on the market than many had anticipated. Adding to the upbeat mood, Trump confirmed that trade discussions with China had ended on a high note, saying the negotiations in London were a success.
“Our deal with China is done, subject to final approval with President Xi and me,” Trump exclaimed on Truth Social. “Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!).”
Trump added:
We are getting a total of 55% tariffs, China is getting 10%. [The] relationship is excellent!
When U.S. markets opened on Wednesday, all the major indexes—including the Dow Jones Industrial Average, S&P 500, Nasdaq, and NYSE—kicked off the day in the green. Stocks also picked up steam on Tuesday following reports that the trade deal talks had wrapped up on a positive note.
‘Deal Done’: Trump Boasts Trade Deal Triumph With China as Stocks and Crypto Climb
Long-term bond yields remain elevated, with the U.S. 30-year Treasury sitting at 4.926%. Meanwhile, gold edged up 0.3% to $3,334.20 per ounce by Wednesday morning. Silver, on the other hand, is down 0.38% and trading for $36 per ounce.
Bitcoin ( BTC) is holding its ground, hovering above $109,500 with a 0.5% gain after multiple attempts to break and stay above the key $110,000 threshold. Ethereum ( ETH) is showing a bit more energy, climbing over 1% and clearing the $2,800 mark per ETH. Global crypto trade volume is slightly below yesterday’s tally, easing 0.31% to a still-strong $135.93 billion.
‘Deal Done’: Trump Boasts Trade Deal Triumph With China as Stocks and Crypto Climb
With markets reacting favorably and digital assets gaining modest ground, investor sentiment appears cautiously hopeful. While some remain wary of broader macroeconomic signals, the tone set by the U.S.-China agreement and tempered inflation figures in May hints at a temporary alignment of global and domestic confidence. Whether this momentum sustains or fizzles may depend on various factors going forward.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings