Markets Surge After U.S. and China Slash Tariffs in Surprise Deal

A wave of optimism swept through global markets as the United States and China took decisive steps to de-escalate their long-running trade dispute.

Both nations announced significant rollbacks on tariffs, triggering sharp rallies across equities and digital assets.

Bitcoin was among the standout performers, soaring past $104,000 in the hours following the announcement. Ethereum also climbed to $2,500, and the broader crypto market edged higher, with several major altcoins in the green. The GMCI 30 Index, which tracks leading digital assets, advanced by more than 2%.

Investor enthusiasm wasn’t limited to crypto. U.S. stock index futures surged ahead of the opening bell, with all major benchmarks — including the S&P 500, Nasdaq, Dow Jones, and Russell 2000 — gaining more than 2%. Gold, a traditional safe haven, lost ground, dipping 3% as risk appetite returned.

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The policy shift marks a major turning point in global trade dynamics. China will cut tariffs on American goods from 125% down to 10%, while the U.S. will slash levies on Chinese imports from 145% to 30%. The new rates will take effect on May 14 and remain in place for at least 90 days.

Arthur Hayes, a prominent voice in the crypto community, summed up the mood with a simple message shared on X: “Buy everything.”

Alexander Stefanov