🗣️📢🔥💰 BTC suffers a drop. 〽️ 🚨
The drop was likely due to Trump's comments proposing a 50% tariff on all products imported from the European Union starting June 1. The announcement was made through Truth Social.
The tariff war that US President Donald Trump has declared on the world seems to have no end. Now, the president is going after the European Union. 🌍
The proposed tariffs have caused significant volatility in the financial markets. The market reacted with volatility, and Bitcoin quickly fell from $111,000 to $108,000.
This announcement marked a radical shift in US-EU trade negotiations, which had previously included discussions on gradual tariff reductions and joint initiatives in digital infrastructure, energy, and artificial intelligence. Markets reacted negatively, with the euro weakening and eurozone bond yields falling dramatically.