Trump’s Tariff Threats Rattle Markets — Bitcoin and Altcoins Slide

U.S. President Donald Trump has proposed a 50% tariff on European Union imports, citing stalled trade negotiations, and has threatened Apple with a 25% tax unless it relocates iPhone production to the U.S.

Following these announcements, Bitcoin dipped below $110,000 on Friday, dragging down the broader cryptocurrency market. Bitcoin (BTC) fell about 2%, while Ethereum, XRP, and Dogecoin each dropped around 3%, leading to a 3.5% decline in overall crypto market value.

Trump reiterated on Truth Social that he had previously informed Apple CEO Tim Cook of his expectation for iPhones sold in the U.S. to be manufactured domestically. He criticized the EU as being “very difficult to deal with” and said trade talks had yielded no progress, prompting his suggestion of a 50% tariff starting June 1. No date was provided for the potential Apple tax.

Despite the recent slump, the crypto market had shown strong gains in recent weeks. According to Binance, Bitcoin climbed from $75,000 in early April to an all-time high of $111,970 on Thursday.

Markets reacted sharply to Trump’s statements. Stocks briefly dropped by 1% before partially recovering to a 0.37% loss at the time of reporting.

Nicolai Søndergaard, a Research Analyst at Nansen, told FXStreet that Trump’s tariff threats likely serve as a negotiation tactic rather than firm policy. “This appears to be a short-term disruption, not a structural shift — but it highlights how vulnerable risk assets are to political signals in the current economic climate,” he noted.$BTC $ETH #TrumpTariffs