TL;DR
Donald Trump announced a 50% tariff on all imports from the European Union starting June 1, 2025, triggering an immediate drop in stock markets and cryptocurrency prices.
The president also threatened Apple with a 25% tax if it does not move its production to the U.S.
Amid the financial panic, cryptocurrencies are pulling back, although crypto analysts see this as yet another sign of their growing role as a long-term economic safe haven.
Following President Trump’s announcement on his Truth Social platform, in which he declared a 50% tariff on all imports from the European Union starting June 1, 2025, digital assets reacted immediately. Bitcoin (BTC), which had recently reached a new all-time high, dropped 1.56% to $109,447.60.
Ethereum (ETH) also lost ground, trading at $2,577.48 with a 3.48% decline. XRP (XRP) slid to $2.37, down 2.39%. Other major tokens like BNB (BNB) and Dogecoin (DOGE) fell 1.87% and 1.75% respectively.
Solana (SOL), in contrast, surprised the market with a 1.61% rise, reaching $182.04, possibly benefiting from its use in DeFi platforms, which are perceived as more agile in the face of regulatory tensions. On the other hand, Cardano (ADA) dropped to $0.7846 (-2.32%), TRON (TRX) plummeted by 3.79% to $0.2677, and Sui (SUI) posted the worst drop of the group, falling by 6.85% to trade at $3.67.
Trump, Apple, and the Reflection of Global Fear
The announcement of a 25% tariff on Apple products manufactured outside the country also sparked uncertainty, not only among shareholders but also among crypto users. The measure is seen as a signal of economic isolation by the United States, further complicating global trade relations. Trump accused the EU of not negotiating “in good faith,” and the U.S. Treasury Secretary stated that the European proposals were “low quality” compared to other partners. This lack of progress in negotiations appears to have triggered alarm bells within the White House, resulting in the most radical decision taken so far.
Despite the current declines, many enthusiasts see this moment as a validation of the thesis that positions Bitcoin and other cryptocurrencies as safe-haven assets in the face of unpredictable monetary policies. Cryptocurrencies, by their decentralized nature, offer an escape route from abrupt decisions by governments and central banks, like Trump’s latest offensive against the European Union.
While traditional markets suffer, the crypto ecosystem adapts. Some see the current pullback as an opportunity to accumulate, betting that in an increasingly volatile global scenario, cryptocurrencies will not only survive but thrive.
