💥 Trump’s Tariff Threats Rattle Markets — Bitcoin & Altcoins Slide

Markets trembled Friday after former President Donald Trump reignited trade tensions. He proposed a 50% tariff on the EU over stalled negotiations and warned Apple of a 25% tax on iPhones made outside the U.S.

On the back of these threats, Bitcoin (BTC) dipped below $110,000, with the broader crypto market following suit.

“I told Tim Cook long ago — if iPhones are to be sold in the U.S., they should be made in the U.S.,” Trump posted on Truth Social.

Calling the EU "very difficult to deal with," Trump criticized the lack of progress in trade talks, suggesting a 50% import tax starting June 1. He didn't clarify when Apple’s proposed tax would begin.

The news triggered a sharp reaction: Bitcoin dropped around 2%, while Ethereum, $XRP , and Dogecoin each lost about 3%, dragging the total crypto market cap down 3.5%.

This came just after Bitcoin hit an all-time high of $111,970, surging nearly 50% from $75,000 in early April, according to Binance data.

Nicolai Søndergaard, Research Analyst at Nansen, told FXStreet the tariff threats are likely a negotiating tactic, not confirmed policy.

“This looks more like a temporary shock than a lasting shift,” he said. “Still, it shows how reactive risk assets are to political signals in today’s fragile macro environment.”

Meanwhile, U.S. stocks initially dropped 1% before recovering to close down just 0.37%.

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