Bitcoin tumbles below $109K as Trump revives EU trade war
Trump tariffs sink Bitcoin, Apple, stir market fears.
A quiet pre-holiday market session was jolted Friday morning after President Donald Trump unexpectedly announced sweeping tariffs against the European Union, reigniting trade war fears and sending shockwaves across global markets.
Among the hardest-hit assets was bitcoin, which dropped sharply, falling below $109,000 after trading above $111,000 earlier in the day, Сoindesk informs.
The president also took direct aim at Apple, threatening a 25% tariff on iPhones not made in the U.S. Markets reacted quickly, with risk assets sliding across the board.
Key takeaways
- Trump threatens 50% tariffs on all EU imports starting June 1
- Apple faces 25% tariff on non-U.S. iPhones
- Bitcoin falls 2.5%, dropping from $111K to $108,600
- U.S. stock index futures decline by over 1%; Apple shares fall 3.6%
Trade threats rattle investors
In a fiery post on Truth Social, Trump said, “The European Union ... has been very difficult to deal with. Our discussions with them are going nowhere!” He recommended an immediate 50% tariff on EU imports, with implementation scheduled for June 1.
Additionally, he reiterated pressure on Apple CEO Tim Cook, saying iPhones sold in the U.S. should be manufactured domestically. If not, a 25% tariff would be levied, a move that pushed Apple stock down 3.6% during early trading hours.
Bitcoin joins sell-off in risk assets
The broader market pullback extended to cryptocurrencies. Bitcoin, which had been trading comfortably above $111,000, swiftly fell 2.5% to $108,600. Analysts attributed the decline to a risk-off mood, with investors moving away from volatile assets amid fresh macroeconomic uncertainty.
BTC price dynamics (May 2025). Source: TradingView
Futures across major U.S. indices turned from moderate gains to losses exceeding 1%.
Conclusion
As trade tensions flare up again, the markets may face a new phase of volatility heading into June. With Trump’s aggressive trade posture and its immediate effects on equities and crypto, investors will be closely watching for countermeasures from the EU and further guidance from the White House.
Earlier we also wrote about how protests erupted when Trump met with top holders of his memcoins.
