Bitcoin Price Today: The president Friday morning threatened an imminent 50% tariff on all EU imports as well as a 25% levy on imported Apple iPhones.
May 23, 2025 — Global markets were jolted Friday morning as President Donald Trump reignited trade tensions with a dramatic announcement of sweeping new tariffs, sending shockwaves through equities and crypto markets alike. Bitcoin, which had been trading steadily above $112,000 earlier in the week, plunged below $109,000 following the news. They BTC was going steady today at $% 110,00 without struggle since President Trump’s
In a series of early morning posts, Trump declared his administration would impose a 50% tariff on all European Union imports starting June 1, citing stalled negotiations and what he called “unfair treatment” of American goods
2. He also targeted Apple Inc., threatening a 25% import tax on all iPhones not manufactured in the United States. He insisted them not to manufacture Apple in India threatening a 25% tax.
“The European Union has been very difficult to deal with. Our discussions with them are going nowhere!” Trump wrote on social media, adding that Apple must “bring jobs back to America or pay the price”
Bitcoin Reacts Swiftly: Bitcoin BTC price drop
The cryptocurrency market reacted swiftly to the geopolitical uncertainty. Bitcoin dropped nearly 4% within hours, falling to $108,750, as investors fled risk assets in favor of safer havens like the U.S. dollar and gold.
Market analysts suggest the drop is part of a broader risk-off sentiment, with traders anticipating further volatility as the trade war escalates. The tech-heavy Nasdaq also opened lower, with Apple shares down over 3% in pre-market trading.
What’s Next?
With tariffs set to take effect in just over a week, economists warn of potential ripple effects across global supply chains, consumer prices, and investor confidence. Crypto markets, often seen as a hedge against fiat instability, may continue to see heightened volatility in the days ahead.
Tirri Venkat Vinod