Trump confirms extension on June 1 deadline on the 50% tariff on the EU.
Upon request, the new deadline sits at July 9, 2025.
Talks will begin rapidly between the two parties.
Trump announced two days ago a 50% tariff on the European Union (EU). This proposal was immediately met with a fall in both EU and US stock markets as well as in the crypto markets. Today, Trump confirms extension on June 1 deadline on the 50% tariff on the EU with a new deadline set at July 9 upon a request to extend the tariff. This led to immediate stabilization to BTC price.
Trump Confirms Extension on June 1 Deadline
Towards the end of the previous week, President of the United States of America, Donald J. Trump, proposed a 50% tariff on the European Union (EU). This announcement came as a surprise to many, as most thought Trump’s tariff war had come to an end. To highlight, Trump began his tariff war in Q1 of 2025 when he announced tariffs on almost every nation across the planet, including an island inhabited only by penguins.
In response to his first tariff announcements, both the US stock market and the crypto market took a heavy hit, with the former seeing trillions lost in liquidations, and for crypto, the price of Bitcoin dropped drastically, slipping into a prolonged correction phase for the remainder of Q1. Following this, Trump called for a halt in all tariffs except on China, where the tariff increased. China retaliated by imposing greater tariffs on the US and drawing alliances with neighboring countries.
Since then, the tariff war between China and the USA continued to escalate until both sides finally agreed to a reduced tariff on one another. This came in Q2 of 2025, when the stock markets and crypto market finally recovered and saw billions flow back in. In particular, Q2 is when the price of Bitcoin finally began to move upwards again, to quickly retake its 6-digit prices and set a new ATH. Now, it seems that Trump has restated the tariff war with a new target in mind, the EU.
Trump’s 50% Tariff on the EU Extended to July 9
When Trump announced the 50% tariff on the EU starting June 1, once again stock markets and the crypto market prices fell immediately. In fact, Bitcoin (BTC) had just set a new ATH at the $111,900 price range, only to fall around the $107,000 price range. Despite this, crypto analysts remained certai that the price of BTC would go on to hit higher highs very soon. Now, Trump announced an extension to the 50% tariff deadline on the EU.
https://twitter.com/TrumpTalksTruth/status/1926797378696151089
As we can see from the post above, Trump confirms receiving a call today from Ursula von der Leyen, President of the European Commission. The request pertained to an extension of the June 1st deadline on the 50% tariff, with respect to Trade and the European Union. Trump then confirmed agreeing to the extension, now set for July 9, 2025, and that talks will begin rapidly. How will the markets respnde then?
