U.S.-China Trade Optimism Lifts Markets as Treasury Secretary Heads to Switzerland for Talks
Risk assets surged late Wednesday following signs of renewed cooperation between the United States and China on trade, with Treasury Secretary Scott Bessent confirming plans to meet with Chinese officials in Switzerland this weekend.
“The current tariffs and trade barriers are unsustainable, but we don’t want to decouple,” Bessent said in a statement, highlighting a shift in tone from Washington aimed at mending trade relations without severing economic ties.
China responded positively, with a Ministry of Commerce spokesperson noting that recent U.S. statements indicate a willingness to revise tariff policies and re-engage in dialogue. “After assessing these signals, and weighing both global expectations and domestic priorities, China has agreed to enter trade discussions with the U.S.,” the spokesperson said.
The market reacted swiftly. Bitcoin (BTC) rallied 3% to $97,200, while futures on the Nasdaq 100 and S&P 500 rose roughly 1%, reflecting growing investor confidence in a potential easing of trade tensions between the world’s two largest economies.
