Bitcoin Drops Below $109K After Trump Threatens 50% Tariff on EU GoodsThe new EU tariffs, if implemented, will take effect on June 1. Trump also threatened to slap a 25% import tax on Apple iPhones that are not manufactured domestically. Apple stock tumbled 2.53% on the news.

“The European Union, which was formed for the primary purpose of taking advantage of the United States on trade, has been very difficult to deal with,” Trump wrote in a post on Truth Social. “Therefore, I am recommending a straight 50% tariff on the European Union, starting on June 1, 2025.”Overview of Market Metrics

Despite Trump’s antics and the subsequent retreat bitcoin experienced, the cryptocurrency is still trading at a respectable $108,574.13, which is close to its previous all-time highs. The price reflects a 2.64% decline on the day, but it remains up 4.35% over the past week. During the past 24 hours, BTC fluctuated between $107,385.27 and it’s new all-time high of $111,970.17, recorded on Thursday afternoon, according to data from Coinmarketcap.