Bombshell!!! Trump recommends 50% tariff on Europe

[EarnOnVictor]

Trump is at it again. He might be planning to ignite another phase of trade war with the Europeans, which is expected to be enforced as early as 1st of June.

From Reuters:

May 23 (Reuters) - President Donald Trump said on Friday that he is recommending a straight 50% tariff on goods from the European Union starting on June 1, saying the EU has been hard to deal with on trade.

https://www.reuters.com/business/trump-recommends-50-tariff-european-union-starting-june-1-2025-05-23/

No wonder Bitcoin sold sharply! What happened to the 90-day pause?

[henry_of_skalitz]

Here we go again..

The pullback is there I hope it won't go for long, though, because it's a tariff war all over, just under a different excuse.

[Charles-Tim]

Bitcoin has support at $110000 since it hit all-time high but it fell to $107300 just now before it rose to $108400 which is where the price is right now. Maybe what Trump said about the tariff caused it.

No wonder Bitcoin sold sharply! What happened to the 90-day pause?

Before he increased the tariff of other countries, he first talked about China, Mexico and EU. Maybe he treats them as exceptions.

[YOSHIE]

Bombshell!!! Trump recommends 50% tariff on Europe

Donald Trump was born June 14, 1946 meaning that now Trump has entered the age of 79 years, in physical and psychological or medical age 79 years is included in the word gori (Geriatric Syndrome) One of the diseases in the suffering of dementia or health mentally, it seems that the US in the future must choose the president at least 40-60 years old, the way of thinking is still normal.

Sometimes the age of 79 in making policies often depressed, Trump should think with common sense that the new rate of 50% for Europe will worsen relations between countries and trigger a global economic war Which widespread the new tariff policy I think has the potential to counterattack by countries such as: France, Germany, the Netherlands, Spain, Greece, Romania, Czech, Italy and other European Unions.

I think the new tariff policy will worsen the economy not only in the US almost all countries in the world will have an effect on imports and worsen global trade, I think the 50% tariff is not a good policy that Trump is doing.

[Die_empty]

Bombshell!!! Trump recommends 50% tariff on Europe

Donald Trump was born June 14, 1946 meaning that now Trump has entered the age of 79 years, in physical and psychological or medical age 79 years is included in the word gori (Geriatric Syndrome) One of the diseases in the suffering of dementia or health mentally, it seems that the US in the future must choose the president at least 40-60 years old, the way of thinking is still normal.

I thought the president had a wide range of qualified economic advisers who he consulted before making policy statements. Does it mean that he doesn't listen to them or they are unqualified?

Sometimes the age of 79 in making policies often depressed, Trump should think with common sense that the new rate of 50% for Europe will worsen relations between countries and trigger a global economic war Which widespread the new tariff policy I think has the potential to counterattack by countries such as: France, Germany, the Netherlands, Spain, Greece, Romania, Czech, Italy and other European Unions.

I think the new tariff policy will worsen the economy not only in the US almost all countries in the world will have an effect on imports and worsen global trade, I think the 50% tariff is not a good policy that Trump is doing.

I thought we were out of the woods with this tariff war. I never knew that Trump did not see the negative effect of these wars on the US and other countries. When will the world be free from the bully of Trump?

[DeathAngel]

Oh no, Bitcoin has crashed to prices not seen since yesterday I think it’s all just posturing, the EU will start to negotiate with the US in a more accommodating way & they will shake hands on a mutually beneficial deal at some point. Bessent said today that all countries are negotiating in good faith except the EU so this is likely just Trump trying to force the EU to start behaving in a way that benefits the US more. The only thing I would love is if he did all this privately & not chest thumping in public because it affects markets.

[philipma1957]

Trump is at it again. He might be planning to ignite another phase of trade war with the Europeans, which is expected to be enforced as early as 1st of June.

From Reuters:

May 23 (Reuters) - President Donald Trump said on Friday that he is recommending a straight 50% tariff on goods from the European Union starting on June 1, saying the EU has been hard to deal with on trade.

https://www.reuters.com/business/trump-recommends-50-tariff-european-union-starting-june-1-2025-05-23/

No wonder Bitcoin sold sharply! What happened to the 90-day pause?

trump loves moving markets around.  its fun for him to do.

[Zaguru12]

Bitcoin has support at $110000 since it hit all-time high but it fell to $107300 just now before it rose to $108400 which is where the price is right now. Maybe what Trump said about the tariff caused it.

One thing I have observed most in this current bull run is the fact that news sells off too early, in the past the market sentiment doesn’t change or react to any news or fundamentals immediately it takes sometime but right now we usually have fake pump and dump when a news is broke out and this yet another one if it. I expect the EU to react before the market can take a direction from this support at $110k, but personally I don’t see the market having similar reaction as when the tariff war was ignited with the Chinese because I expect this one to be resolved faster.

No wonder Bitcoin sold sharply! What happened to the 90-day pause?

Before he increased the tariff of other countries, he first talked about China, Mexico and EU. Maybe he treats them as exceptions.

The 90 days break was actually for the Chinese and the first tariff hike, I don’t think this new decree will actually have anything to do with current suspension, let’s see how the EU reacts and see, but trump news is most definitely losing major relevance on the market

[aioc]

Trump is at it again. He might be planning to ignite another phase of trade war with the Europeans, which is expected to be enforced as early as 1st of June.

https://www.reuters.com/business/trump-recommends-50-tariff-european-union-starting-june-1-2025-05-23/

No wonder Bitcoin sold sharply! What happened to the 90-day pause?

Trump's mind is unstable. We should get used to Trump changing his stance occasionally; he is very imposing.
He is harming his people with this tariff, expect the trade wars to go from bad to worse, as both sides do not want to talk to settle major issues.
The European Union will have to wait for years for another US election and hope the next president is lenient, for them to have a good relationship with the US.

"The EU is one of Trump's least favorite regions, and he does not seem to have good relations with its leaders, which increases the chance of a prolonged trade war between the two," said Kathleen Brooks, research director at XTB.

[Charles-Tim]

The 90 days break was actually for the Chinese and the first tariff hike, I don’t think this new decree will actually have anything to do with current suspension, let’s see how the EU reacts and see, but trump news is most definitely losing major relevance on the market

The first tarrif hack were for China (10% at the time), Canada (25% at the time) and Mexico (25% at the time) and not just China.

The 90% pause was for every country except China as the trade war escalated more between United States and China at the time.

[avikz]

Trump is at it again. He might be planning to ignite another phase of trade war with the Europeans, which is expected to be enforced as early as 1st of June.

From Reuters:

May 23 (Reuters) - President Donald Trump said on Friday that he is recommending a straight 50% tariff on goods from the European Union starting on June 1, saying the EU has been hard to deal with on trade.

https://www.reuters.com/business/trump-recommends-50-tariff-european-union-starting-june-1-2025-05-23/

No wonder Bitcoin sold sharply! What happened to the 90-day pause?

Trump is over estimating the power of US. He is probably going down to the history book as the worst president of US who destroyed it's economy.

The world is not stupid and will eventually form an anti-american alliance if Trump continues on his path. The concerns are growing and even allies of US are not happy about it.

I foresee a trade war where US will loose its dominance over the world trade.

[goldkingcoiner]

Trump is at it again. He might be planning to ignite another phase of trade war with the Europeans, which is expected to be enforced as early as 1st of June.

From Reuters:

May 23 (Reuters) - President Donald Trump said on Friday that he is recommending a straight 50% tariff on goods from the European Union starting on June 1, saying the EU has been hard to deal with on trade.

https://www.reuters.com/business/trump-recommends-50-tariff-european-union-starting-june-1-2025-05-23/

No wonder Bitcoin sold sharply! What happened to the 90-day pause?

Trump is the perfect example of why you should not hire incompetent people, even if they are very popular.

He obviously has no idea what he is doing (or maybe he does and was secretly hired by another nation to create discord and chaos in his own country?).

Either way, the US going against their own allies is the dumbest thing ever. It will not work out as he expects and in the end, he will double back. Like he has with China, Canada and name any other country he put tariffs on.

[YOSHIE]

I thought the president had a wide range of qualified economic advisers who he consulted before making policy statements. Does it mean that he doesn't listen to them or they are unqualified?

I do not want to say Trump's policy or presidential advisor is contrary to Trump's mind, which is clear for now the elected US President, regardless of whatever he does.

Interesting to study about Trump's Personality

Some scientists and writers have tried to research character, a picture of Trump's mindset.
For example:

“what’s wrong with Donald Trump?” It’s writers trying to figure out whether he’s a psychopath or merely “highly combustible.” Is he declining mentally? Or is he disinhibited, meaning low in the personality trait of conscientiousness?

You can read more clearly on Trump's personality web.

I thought we were out of the woods with this tariff war. I never knew that Trump did not see the negative effect of these wars on the US and other countries. When will the world be free from the bully of Trump?

So, but Trump's policy that makes the community in this forum always shake, Trump which makes us all unable to calm down and free.
This will not end for the next five years.

[aylabadia05]

Trump is at it again. He might be planning to ignite another phase of trade war with the Europeans, which is expected to be enforced as early as 1st of June.

From Reuters:

May 23 (Reuters) - President Donald Trump said on Friday that he is recommending a straight 50% tariff on goods from the European Union starting on June 1, saying the EU has been hard to deal with on trade.

https://www.reuters.com/business/trump-recommends-50-tariff-european-union-starting-june-1-2025-05-23/

Trump is different. Lol. Next month will bring another new surprise. As an old president despite having advisors who are healthier in mind than him, it seems to be ignored very often.
The source is quoted from Reuters about 50% tariffs for the European Union, I also found news about the iPhone business that is not produced in America will also be imposed tariffs including trade deals with India submitted by @WatcherGuru.
Looks like he's a hobbyist.

[Wakate]

Bitcoin has support at $110000 since it hit all-time high but it fell to $107300 just now before it rose to $108400 which is where the price is right now. Maybe what Trump said about the tariff caused it.

No wonder Bitcoin sold sharply! What happened to the 90-day pause?

Before he increased the tariff of other countries, he first talked about China, Mexico and EU. Maybe he treats them as exceptions.

Does it mean that Trump is trying to control the financial market? This looks some how like he's being manipulative because anytime he talks about tariffs, the financial market keeps shaking with bad news that are making investors to sell their holdings with the fear that they could lose their unrealized profits if others sell before them.

The same thing happens last time that made those that did not sell part of their holdings immediately to end up in a big loses. Now it seems that the world financial markets is going to crumble again because of repeated scene that left big companies in severe loses. Imposing 50% tariffs on Europe is an uncalculated move which is going to have consequences for both European Union and the US.

China was able to scale through because they disagree with Donald Trump initial plans that left the US to lose many of the Chinese deals with the US companies. It seems like this manipulative move that could not work on China would be inflicted on Europe.
 Let's see how it's going to play out!

[asriloni]

It has been weeks since trump paused the tariff, and finally, it's now coming again. I believe this is just another market manipulation by him because applying tariff just to fix 250 milllion deficit is totally non sense. However, it's still acceptable for him to get upset with 250 million deficit faced by his country, and wanna fix it asap. 

I thought he would charge more than 50%, like 80% or 100%, but it seems he's getting soft. Another tariff war between EU and US is awaiting us. Rollercoaster in every quarter for the next 4 years.!

Still waiting for his intruction about when to sell. 

[virasog]

Trump is at it again. He might be planning to ignite another phase of trade war with the Europeans, which is expected to be enforced as early as 1st of June.

From Reuters:

May 23 (Reuters) - President Donald Trump said on Friday that he is recommending a straight 50% tariff on goods from the European Union starting on June 1, saying the EU has been hard to deal with on trade.

https://www.reuters.com/business/trump-recommends-50-tariff-european-union-starting-june-1-2025-05-23/

No wonder Bitcoin sold sharply! What happened to the 90-day pause?

Yup, I was thinking the same of that 90-day pause ? That temporary halving of the reciprocal tariff should remain in effect until July 8, and after that, the full 20% tariff should resume from July 9. So what's the point of putting a more 50% tariff from June 01 ? Also as I heard from tweet that this announcement was made just before there was call to be made between Marco Sefcovic (who is the EU trade chief) and Jamieson Greer (who is from the US counterparty). Trump is playing games here and making an announcement just before they could have come to any conclusion through calls.

[Fortify]

Trump is at it again. He might be planning to ignite another phase of trade war with the Europeans, which is expected to be enforced as early as 1st of June.

From Reuters:

May 23 (Reuters) - President Donald Trump said on Friday that he is recommending a straight 50% tariff on goods from the European Union starting on June 1, saying the EU has been hard to deal with on trade.

https://www.reuters.com/business/trump-recommends-50-tariff-european-union-starting-june-1-2025-05-23/

No wonder Bitcoin sold sharply! What happened to the 90-day pause?

This sort of announcement stopped being a surprise a while ago, he seems intent on making the USA the least trusted trading partner for the next 4 years and even if you do somehow reach an agreement with him it is not worth the paper it's written on. He takes offense at the most petty things which would have been far beneath any other president in the past. The only people the Trump has benefited through his whole life are his family and the Trump organisation. Each of these announcements will hit the stock market in certain ways and I have no doubt that he's engaged in insider trading - warning a few people with lots of money about upcoming events so they can profit off it and feed it back to him in different ways.

[takuma sato]

Tariffs are becoming increasingly less effective in terms of crashing the market. The first tariffs were way more damaing, right now the market has jumped on the daily moving average on the short side (that is, 50MA). The SPY jumped there in a nice rebound. The NASDAQ didn't even touch the 50MA, for some reason the SPX crashed more. BTC has just had a nice rebound, shorts got their celebrity dance and then it recovered. The problem is we are now below the previous ATH from January, but we are really close to it. It will depend on the market sentiment on these new tariffs. The US10Y stays around 4.5%, nothing new to write. There's an epic battle on the bond market and this will decide where the balance shifts. The tariffs are certainly not great to keep yields at bay but since Trump tariff card is lossing the initial impact this may be short lived. I remain bullish.

[TastyChillySauce00]

Here we go again, its been so long since such news appear, of course there's gotta be some correction right after BTC hitting new ATH after few weeks of tranquility.

I'd expect next few weeks to be a market full of rollercoaster but this 50% tariff toward europe is just bad.
We hardly know what intention trump gonna have, just hoping the market will be spared, it won't be funny if the market abruptly ended its bullish sentiment just because of tariff.