China, US in Talks on $30B Mutual Tariff Reduction Framework, Commerce Ministry Says

The signal here is procedural rather than substantive: both sides are talking, but the ministry has disclosed no scope, timeline or product coverage, and no agreement exists. For crypto and RWA markets, which have traded largely on macro risk sentiment rather than trade-specific fundamentals, a tariff framework at this stage is a headline input, not a structural one. What matters next is whether the consultations produce named goods and a schedule, since that is the point at which the story shifts from diplomacy to actual trade flows.