President Trump of the United States announces a US-UK trade agreement; Bitcoin breaks through $100,000, setting a new record, and market confidence rebounds.

On May 8, 2025, President Trump of the United States announced from the White House a new trade agreement with the United Kingdom, covering sectors like agriculture, automotive, steel and aluminum, energy, and advanced technology. The agreement is considered a breakthrough, prompting a strong market reaction, with Bitcoin prices surpassing $100,000 and the three major U.S. stock indices rising. During the press conference, Trump stated that if Congress extends the tax cuts, the stock market will hit new highs, and he encouraged investors to buy stocks.

US-UK Trade Agreement Details Unveiled

President Trump held a press conference at 10 a.m. Eastern Time on May 8, officially announcing a trade framework agreement with the United Kingdom. UK Prime Minister Keir Starmer participated in the meeting via phone, with both parties emphasizing that the agreement will promote bilateral trade, create jobs, and strengthen historical alliances.

According to the agreement, the US will gain expanded access to the UK market, especially in agriculture. US exports of beef, ethanol, chemical products, industrial machinery, and energy products will enjoy faster customs clearance and reduced non-tariff barriers. On the UK side, the tariff on car exports will be reduced from 27.5% to 10%, applicable to a quota of 100,000 cars per year. Additionally, the US will remove the 25% tariff on UK steel and aluminum products and permit UK airlines to buy $10 billion in Boeing aircraft.

The agreement also covers future cooperation in advanced technology areas such as quantum computing, nuclear fusion, and aerospace. Although some details of the agreement are still pending, both parties expect to finalize the text in the coming weeks.

Bitcoin Surpasses $100,000, Reaching a Three-Month High

On the same day Trump announced the trade agreement, Bitcoin prices soared past the $100,000 mark. According to Coin Metrics and TradingView data, BTC/USD was quoted at $100,023 on the Binance exchange at 14:00 UTC on May 8, with a daily increase of over 5%. The highest price reached $101,525, marking the highest point since February.

According to Blockchain.com data, Bitcoin on-chain transaction volume surged by 18% that day, reaching 450,000 transactions, indicating a significant increase in market participation. Binance's single-day Bitcoin trading volume exceeded $3.8 billion, reflecting a large influx of capital. The total cryptocurrency market cap exceeded $3.5 trillion, indicating a renewed optimism in the risk asset market.

Other mainstream cryptocurrencies also rose simultaneously. Ethereum (ETH) increased by 14% to $2,050.79; Solana (SOL) rose by 8% to $157.76; Dogecoin (DOGE) increased by 8.3% to $0.1863. The transaction volume in the Ethereum ecosystem surged by 30% within 24 hours, with a total market value reaching $53.5 billion.

Stock Market Rises in Tandem, Trump Suggests "Buy Stocks Now"

During the press conference, Trump welcomed the market's response and emphasized that if Congress extends the tax cuts promoted during his tenure, the stock market will "reach new historical highs." He bluntly stated, "If all these come to pass, coupled with all the trade agreements we are promoting, the US economy will reach a new level. You better buy stocks now."

The market reacted positively. On that day, the Dow Jones Industrial Average rose by over 500 points, an increase of about 1.4%; the S&P 500 index rose by 1.4%; the Nasdaq Composite Index rose by 1.8%. The Philadelphia Semiconductor Index climbed 1.8% as well. The yield on the US 10-year Treasury note rose to 4.37%, and the dollar index rose to 100.05.

According to US Commerce Secretary Howard Lutnick, although the agreement maintains a 10% benchmark tariff on most UK goods, the tariffs on cars and steel and aluminum products have been significantly reduced, offering significant advantages to the UK manufacturing sector.

Market Background and Subsequent Negotiations

This agreement is the first reached with a major trading partner since Trump announced a reciprocal tariff policy in April. Previously, the US had announced large-scale tariff measures against multiple countries, including the UK, but postponed them until July to allow room for negotiations.

According to statistics from the US Trade Representative (USTR), in 2024, the total value of US exports to the UK was $79.9 billion, with imports at $68.1 billion, resulting in an $11.9 billion trade surplus with the UK. The UK is the fifth-largest product export market and the second-largest service export market for the US.

The Trump administration is currently involved in a new round of trade talks with countries such as China, Japan, and India. Treasury Secretary Scott Bessent is expected to hold formal talks with Chinese officials in Switzerland this week.

President Trump of the United States announces a US-UK trade agreement; Bitcoin breaks through $100,000, setting a new record, and market confidence rebounds.

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Bitcoin breaks through $100,000, hitting a three-month high: Trump trade agreement and reform of the wealth tax fuel market excitement