Trump’s Trade War Sparks Bitcoin Crash: What You Need to Know!

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Good Vibes Shattered as Trump Revives Trade War, Sending <a href="https://bbg-news.com/btc-usd/">Bitcoin</a> Tumbling Below $109K

What to know:

  • Risk assets — bitcoin among them — fell sharply during early morning U.S. hours after President Trump reignited what had been cooling trade tensions.
  • Floating along at above $111,000, bitcoin quickly fell about 2.5% on the news.
  • The president threatened a 50% tariff on all EU imports to begin June 1 as well as a 25% tariff on Apple iPhones not made in the U.S.

Initially, it appeared that the upcoming session might be rather quiet due to the approaching holiday weekend. However, those expectations have now been shattered, as President Trump decided to rekindle the previously easing trade disputes.

The president expressed frustration in a post on Truth Social, stating that the European Union has been challenging to negotiate with. He lamented that our talks have made no progress, so he is suggesting an immediate imposition of a 50% tariff on goods from the EU, starting from June 1.

The global leader criticized both Apple Inc. and its CEO, Tim Cook, stating that he had previously communicated to Cook his expectation for iPhones sold in the U.S. to be produced domestically instead of in India or any other country. He warned that if this was not the case, a tariff of at least 25% would be imposed on Apple.

As a researcher observing the financial markets, I noticed a significant shift in U.S. stock index futures. Initially showing modest gains, they quickly plummeted towards a nearly 2% decline. Particularly noteworthy was the drop in Apple’s share price by 3.6%. In terms of Bitcoin, prior to the breaking news, its price hovered above $111,000.

quickly pulled back to $108,600.

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2025-05-23 16:37