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Trump strikes with 50% tariffs – Bitcoin and Apple hit hard!
US President Trump announces high EU tariffs, weighing on the crypto market. Bitcoin and altcoins are falling sharply.
Trump strikes with 50% tariffs – Bitcoin and Apple hit hard!
On May 23, 2025, US President Donald Trump surprisingly announced tariffs of 50 percent on European Union goods, which will come into force on June 1, 2025. This decision comes in the context of talks with the EU, which Trump described as unsuccessful and then called for a direct tariff rate. The measures not only affect EU goods, but could also have a significant impact on US companies. Products manufactured in the USA, however, remain exempt from tariffs.
The announcement also hits tech giant Apple, which faces an additional tariff of at least 25 percent on iPhones that are not produced in the USA. After the tariffs were announced, Apple shares fell by 3.6 percent, a total of four percent.
Reactions of the financial markets
Global financial markets reacted quickly to the tariff announcements. The crypto market experienced a significant decline: Bitcoin fell from over $111,000 to $108,600 in a matter of minutes. This represents a loss of just under $2,000 and marks a dramatic decline in a week that previously saw Bitcoin hit an all-time high of nearly $112,000. Ethereum also fell to $2,500, while other altcoins such as XRP, Solana and BNB each fell by three percent.
In parallel with these developments, US stock market futures also fell by almost 2 percent from initial slight gains. Analysts are warning about the potential long-term impact of the trade war, particularly the slowdown in international trade and its threats to the post-pandemic economic recovery. The uncertainty could lead many investors to invest in safer investments.
Impact on the industry
The coming weeks could be crucial for market reactions to the new tariff situation. Companies are being forced to adapt their strategies to compensate for the additional costs caused by tariffs. Historically, similar trade conflicts have led to relocation of production facilities and reorganization of supply chains.
These developments could have not only short-term but also long-term effects on globalization and greater regionalization of production. Given the tense situation in international trade, the economic and political reactions are still uncertain.
In summary, the reactive dynamics in the markets show how vulnerable the crypto sector and stock markets can react to political decisions. It remains to be seen how the situation will develop in the coming weeks. Experts from BTC Echo and IT Boltwise will continue to monitor events closely.