The US is not looking to overhaul China's economy but is seeking a fairer trade deal, according to US Trade Representative Jamieson Greer. Speaking on May 8, Greer emphasized the goal is "balanced trade" under the current tariff framework, a deliberate step back from demanding structural changes to Beijing's state-driven model.
US tariffs on Chinese goods sit at 145%, directly impacting the crypto industry. Bitcoin mining operations in the US rely heavily on Chinese-manufactured hardware like ASICs. The elevated costs are raising questions about America's ability to sustain its position as the world's dominant source of Bitcoin hashrate.
Greer's comments came ahead of meetings in Beijing. China recently announced new regulations to bolster its manufacturing dominance, affecting supply chains critical to crypto infrastructure. During last year's trade escalations, over $19 billion in leveraged positions were liquidated across crypto markets. A genuine trade truce could stabilize digital asset markets and restore investor confidence.
China's push toward de-dollarization remains a wildcard, adding complexity to the regulatory divergence between the two countries. For investors, trade policy has become a first-order variable for crypto portfolio management.