Trump Proposes 50% Tariff on EU, Bitcoin Drops Below $109K
President Trump announced plans to impose a 50% tariff on the European Union, effective June 1, citing stalled negotiations.
He also threatened Apple with a 25% tariff if iPhones are not manufactured in the U.S.
- U.S. stock index futures dropped nearly 2% following the announcements.
- Apple's stock fell by 3.6%.
- Bitcoin price decreased from over $111,000 to $108,600.