Bitcoin retreats amid new tariff threats from Donald Trump
During the day on Thursday, the price of Bitcoin sharply retreats and investors are once again backed against the wall. The reason for this drop in BTC and other alternative coins is due to new statements from U.S. President Donald Trump. The tycoon threatens to impose tariffs within two weeks.
The tycoon's statements come in the midst of a context that seemed positive for the markets. This Tuesday, two positive events occurred for financial assets, such as the inflation data. The CPI performed better than expected during the month of May in the United States, which presented an optimistic outlook for the economy.
On the other hand, delegations from China and the U.S. reported that they had reached an agreement in their trade dispute. Although the precise details of the clauses are not yet known, President Trump and the Chinese delegates labeled the agreement as positive. A third positive event is that Secretary of Commerce Howard Lutnick assured that the EU was also next in line for agreements.