China Waives Tariffs On US Ethane Imports, Crypto Market To Rally?

In a massive development in the ongoing trade war, China has decided to remove its 125% tariffs on US Ethane imports, sparking optimism that China and the US could soon reach an agreement. This is undoubtedly bullish for the crypto market, given the negative impact the trade war has had on the market so far.

Crypto Market Receives Boost As China Waives Tariffs On US Ethane Imports

The crypto eyes another leg to the upside following China’s decision to waive tariffs on US Ethane imports. The Reuters report cited two sources familiar with the matter, with the country excluding these goods from the 125% it imposed on US imports earlier this month.

This move comes just days after China exempted some US goods, including chemicals, vaccines, and jet engines, from the 125% tax on US imports. This recent waiver again provides optimism that China and the US could soon reach an agreement to settle this trade war, which has already destabilized the markets.

It is worth mentioning that the Bitcoin price and other altcoins rallied following China’s move to exempt some US goods from the tariffs last week. As such, the crypto market could again witness another rally following this latest waiver from the Asian country.

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