President Donald Trump proposes imposing a 50% tariff on the European Union, citing little progress in trade discussions.

Trump also threatened Apple with a 25% tariff if the company refused to manufacture its phones in the United States.

The price of Bitcoin dropped below $110,000 as the cryptocurrency market declined following Trump's new tariff threats.

Bitcoin (BTC) and the broader cryptocurrency market halted their positive run on Friday, as the leading cryptocurrency fell below $110,000 after new tariff threats from U.S. President Donald Trump against the European Union and Apple.