Trump wants 50% tariff against Europe, Bitcoin drops
The truce did not last. In a single post on Truth Social, Donald Trump revived the trade war with the European Union, announcing a wave of tariffs that instantly shook the markets. Bitcoin, which was hovering above $111,000, dropped by over 3% to around $107,300.
An announcement that falls like a guillotine
While Wall Street was gearing up for a calm extended weekend, the President of the United States chose confrontation: ‘Discussions with the European Union are not advancing. I recommend an immediate 50% tariff on all European imports starting June 1st,’ he declared boldly in a message released Friday morning.
The tone escalated when he targeted Apple. Trump demands that all iPhones sold in the U.S. be produced on American soil, otherwise a 25% tariff will apply to each imported device. The message is clear: Silicon Valley’s style of globalization will no longer be tolerated unconditionally.
Bitcoin and Wall Street in turmoil
The timing is brutal. In a matter of minutes, futures contracts on U.S. stock indices went from a slight green to a nearly 2% drop. Apple, a direct target of the presidential threat, was already down 3% in pre-market trading. Bitcoin, a barometer of risk appetite, took the shock immediately: a straight 3% decline.
This jolt serves as a reminder that despite its status as a ‘digital reserve,’ Bitcoin remains extremely sensitive to macroeconomic tensions. By targeting both Europe and American tech giants, Trump sends a strong signal to the markets: protectionism could once again become the norm in 2025.
