CRYPTO and Trump's Tariffs, All Short-Term. 🤡🤡🤡
President Donald Trump announced that he would impose a 50% tariff on all imports from the European Union starting June 1, 2025, unless the product is made in the United States.
He criticized the EU for unfair trade practices such as trade barriers, VAT, unreasonable corporate fines and unwarranted lawsuits against American companies.
According to him, these have led to a trade deficit of up to $250 billion a year for the United States. He said that negotiations with the EU had failed, and the United States was forced to take a tough stance.
European and US stock markets both fell after President Trump's tariff announcement.
Bitcoin fell below $110,000 but is recovering.
Now, the initial wave of tariff reactions may affect Bitcoin, but it is short-lived and often happens quickly. Any panic or turmoil in the financial markets right now only helps Bitcoin assert its position,