US Ethane Imports Get Tariff Relief, Crypto Market Set for Possible Rally

In a major shift in the ongoing trade tensions, China boosted US Ethane imports by announcing the removal of its steep 125% tariffs. The move sparked renewed hope that China and the US could soon reach a broader agreement. Many analysts view this development as a bullish signal for the crypto market, which has faced consistent pressure throughout the trade dispute.

Reuters Reports Confirm China’s Tariff Waiver

The crypto market is showing signs of renewed strength after China decided to lift tariffs on US Ethane imports. A Reuters report, citing two sources close to the matter, confirmed that China excluded US Ethane from the steep 125% tariffs it had imposed on American goods earlier this month.

More US Goods Win Exemptions, Easing Trade War Fears

This move follows another exemption China announced just days ago, removing tariffs on various US products, including chemicals, vaccines, and jet engines. These consecutive waivers are fueling optimism that Beijing and Washington may soon resolve the ongoing trade conflict, a dispute that has significantly rattled global markets.

Bitcoin and Altcoins Eye New Gains

Notably, Bitcoin and major altcoins rallied after China’s earlier exemption announcements last week. With this latest tariff relief, the crypto market could once again be set for another strong rally.