CoinDesk Podcast Network Trump Lowers China Tariffs After Meeting With Xi | CoinDesk Daily
Oct 30, 2025
Trump announced a drop in U.S. tariffs on China from 57% to 47% following a meeting with Xi Jinping, aiming to enhance trade relations. The rare earths issue has also been resolved, paving the way for smoother exchanges. Meanwhile, Powell's remarks shifted market expectations regarding interest rate cuts. In the payments world, MasterCard may acquire ZeroHash, reflecting a surge in interest for stablecoins, with projections indicating their transaction volume could hit $1 trillion by 2030.
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Tariff Reduction And Rare Earths Settlement
- President Trump announced tariffs on China would be lowered to 47% from 57% after meeting Xi Jinping.
- He said the agreement is one year, extendable, and rare earths roadblocks were settled.
Powell Signals Caution After Rate Cut
- The Fed cut its benchmark rate by 25 basis points but Jerome Powell warned another cut this year is not guaranteed.
- Market odds for a December cut fell from about 90% to 70% after Powell's comments.
Payments Giants Push Into Stablecoins
- MasterCard is reportedly in late-stage talks to buy ZeroHash for $1.5–$2 billion amid stablecoin competition.
- Payments giants are pushing into stablecoins as institutional adoption could drive $1 trillion in volume by 2030.