Trump Tariff To Hit EU and Apple, Shakes Crypto Market

President Donald Trump has taken a bold step in his ongoing tariff war. Starting June 1, 2025, the United States will impose a 50% tariff on goods from the European Union (EU). This decision comes shortly after the president threatened a 25% tariff imposed on Apple, a multi-billion-dollar tech company.

These actions are already affecting the financial markets. The cryptocurrency market is down, and investors are worried about what will happen next.

Trump Says Trade Talks With Europe Are Failing

President Trump is not pleased with the way trade talks with the European Union are going.

According to him, the talks are “going nowhere,” so he decided to raise tariffs on European goods by 50%.

This means that products like cars, clothes, and food from Europe will cost more when they arrive in the U.S. President Trump believes that these high tariffs will force the European Union to take the U.S. more seriously in trade negotiations. 

He also wants to protect American businesses from foreign competition. 

Apple Caught in Trade War CrossChair

Just before announcing the EU tariffs, President Trump made another bold move. He posted a message on Truth Social telling Apple to stop making iPhones in other countries. He said if Apple does not make iPhones in the U.S., he will add a 25% tax to all iPhones abroad.

This message puts pressure on Apple, which makes most of its iPhones in China. This is not the first time Apple has been mentioned in Trump’s trade strategy. In April, Trump introduced a tech tariff policy to make imported technology more expensive. 

He later granted a 90-day relief period, which will end on June 8. During this short break, Bitcoin miners in the U.S. are rushing to import as many mining rigs as possible before the window closes.

However, this direct threat to Apple shows how serious he is about reshaping U.S. manufacturing policies. The president wants more American companies to bring their factories back to the U.S. to create jobs and boost the economy.

Crypto Market Drops After Announcement

Following the announcement, the crypto market reacted quickly, showing bearish signs. The total value of all cryptocurrencies fell to $3.42 trillion, a 2.58% drop in one day. Bitcoin (BTC), the flagship crypto, dropped to $108,000 shortly after reaching a new high of $111,000. 

Ethereum (ETH), the second-largest crypto, also fell by 1.82%. XRP dropped by 2.09%. The sudden pullback shows how sensitive the market is to significant political and economic events. 

Investors and market participants are nervous about how the new tariffs will affect the global economy. However, despite the drop, Bitcoin buyers are not backing off. Onchain data from analytics firm CryptoQuant reveals that investor confidence remains unusually high.

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