TLDR:
- Trump said the meeting with Xi Jinping may not happen after earlier confirmation at APEC.
- The president had confirmed the October 31 APEC meeting with China’s president.
- Trump warned of a 155% tariff on China if no trade deal is reached before November 1.
- Bitcoin briefly fell after Trump’s comments but later aimed to recover the $113,000 level.
U.S. President Donald Trump cast doubt on a planned meeting with China’s President Xi Jinping, and Bitcoin quickly pared earlier gains. The announcement followed remarks at the Rose Garden Club Lunch, where Trump indicated the meeting may not occur.
However, he also stated that he wants a good deal with China and expects to reach one. The price reaction proved immediate, though brief, as Bitcoin fell sharply before attempting to reclaim the $113,000 level.
Meeting Uncertainty Adds Pressure
Earlier updates framed the meeting differently, which set the stage for today’s reversal. Per reports, Trump had confirmed an October 31 meeting with Xi during the APEC summit in South Korea.
He also said China had acted respectfully and that he expected to make a deal with them. That context mattered for markets, because it contrasted with the latest indication that the meeting remains uncertain.
The policy backdrop evolved alongside the meeting uncertainty, which added another market focal point. Trump said yesterday that he might impose a 155% tariff on China if no deal emerges before a November 1 deadline. He had earlier imposed a 100% tariff on China, scheduled to take effect on November 1.
This sequencing placed clear markers around trade actions and introduced a short window before the deadline. Meanwhile, the potential tariff escalation underscored the importance of any near-term engagement between the two sides.
Bitcoin Rebounds as Markets Reassess Tariff Threat and Talks
The price response connected directly to the changing meeting outlook and the tariff timeline. Bitcoin initially sold off as the meeting appeared less certain and traders reassessed risk.
However, the move moderated as Bitcoin sought to recover and target the $113,000 area. The rally from earlier in the day had encouraged bullish sentiment, which the pullback partially unwound.
Even so, the day’s shifts kept the focus on the scheduled events. The discussion then returned to the link between the proposed meeting and trade progress. Trump’s latest statement indicated that the meeting remains far from guaranteed, even with prior confirmation.
However, he also reiterated his intent to reach a good deal with China. This combination maintained attention on October 31 at APEC in South Korea and the November 1 tariff date.
Therefore, the timeline continued to anchor coverage and market tracking through the short horizon.
