Trump’s EU Tariff Plan Sends BTC Lower

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The liquidations are up to over $450 million.

After a month of calmness on the tariff front and even positive developments between the US and China, the POTUS is back with making threats against (former) partners – this time, solely the EU.

Trump said the talks with the Union are leading to no meaningful results and proposed a straight 50% tariff starting from June 1.

The US President believes the EU was formed for the “primary purpose of taking advantage of the United States” on the trade front, and its multiple barriers have made it difficult for everyday Americans. In fact, he claimed that the Union’s policies have led to a Trade Deficit with the US of more than $250,000,000 per year.

His statement, which went live minutes ago, had a profound and immediate effect on the cryptocurrency markets, as did previous tariff-related announcements.

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