title: Bitcoin has plummeted over 4% from its recent all-time high of $111,900

Bitcoin has plummeted over 4% from its recent all-time high of $111,900 toward $107,000 as US President Donald Trump announced potential tariffs on iPhones

U.S. President Donald Trump announced potential tariffs on iPhones not made in the USA and EU-imported goods, causing S&P 500 and oil futures to fall by over 1.6% and 0.9%, respectively, while gold rose by 1.5%.

On Monday morning, President Trump took to Twitter to announce that he had long ago informed Tim Cook of Apple that he expected their iPhones that will be sold in the United States of America to be manufactured and built in the United States, not India, or anyplace else.

If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank you for your attention to this matter!

If you open the EU market to U.S. products on a Tariffs & Barrier free basis, which they have largely refused to do for many years, and if they continue to place strong Tariffs on U.S. products (高达 70% on some types of products!), and if they continue Non-Monetary Trade Barriers, which totally favor the E.U., and if they continue to manipulate their currency (which they have done for many years and continue to do!) and if they place V.A.T. and other Tax burdens on U.S. products which are far greater than the U.S. Taxes on E.U. products (which they largely avoid paying!), then the Trade Deflicit will quickly disappear, and we will have a great Trade surplus.

The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with. Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable. Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States. Thank you for your attention to this matter!

The post U.S. President Trump Announces Potential Tariffs on iPhones Not Made in the USA and EU-Imported Goods appeared first on Inside Bitcoins.

Bitcoin price has plummeted over 4% from its recent all-time high of $111,900 toward $107,000 as gains made in price discovery over the past few days since a new all-time high was printed have now been erased.

Over the past 24 hours, all of the top 10 cryptocurrencies have declined in price. The best performer, Solana, lost just 1.2%, buoyed by the Solana community’s bullish momentum from Trump’s gala dinner last night.

Ethereum, Dogecoin, and XRP are down over 4%, with BNB bringing up the rear. Tether and USDC are obviously stablecoins, which have maintained their peg within 0.03%

Mentioned in this article