Oh, what a jolly old time it is in the land of crypto! Just when you thought the markets were as flat as a pancake, they’ve bounced back with a whopping $100 billion in just 12 hours! All thanks to our dear friend, President Donald Trump, who decided to play a little game of “Tariff Tickle” with the European Union. 🎩
On a rather uneventful Sunday, May 25, Trump announced he was extending the deadline for a 50% tariff on the EU until July 9. Why? Because who doesn’t love a good cliffhanger? He had previously promised the tariffs would kick in on June 1, but it seems he fancied a little more time to ponder his next move. 🕵️♂️
“I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union,” he chirped on his social media platform, Truth Social.
“I agreed to the extension,” he added, “It was my privilege to do so.” Oh, how noble! 🙄
Tariff Flipflops Cause Market Turmoil
Fast forward to May 26, and Ursula is all fired up, ready to chat about trade like it’s the hottest gossip in town. “To reach a good deal, we would need the time until July 9,” she declared, as if she were negotiating the last cookie in the jar. 🍪
Good call with @POTUS.
The EU and US share the world’s most consequential and close trade relationship.
Europe is ready to advance talks swiftly and decisively.
To reach a good deal, we would need the time until July 9.
— Ursula von der Leyen (@vonderleyen) May 25, 2025
Now, whether Trump is a master of market manipulation or just enjoys keeping everyone on their toes is up for debate. His constant flip-flopping has left nations and investors scratching their heads, wondering if they should buy a ticket to the next tariff rollercoaster or just sit this one out. 🎢
“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,” Trump grumbled just days before, on May 23.
“Our discussions with them are going nowhere,” he lamented, while proposing those delightful 50% tariffs on EU goods. Oh, the drama! 🎭
Did you know the United States is the EU’s biggest trading partner? It gobbles up 21% of its exports, with pharmaceuticals, vehicles, and even a cheeky pint of beer making the list. 🍻
Crypto Market Reaction
As for the crypto markets, they took a little tumble last week, dropping 4% from their multi-month high as tariff tensions rose like a soufflé in the oven. But fear not! Total capitalization is currently a staggering $3.56 trillion, having gained 2.5% over the past 12 hours since Trump’s latest tariff twist. 🎉
Bitcoin, the star of the show, was up 1.5% on the day, trading at a dazzling $109,650, recovering from a weekend low of $106,800. It seems our beloved Bitcoin is as resilient as a rubber band! 🤑
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2025-05-26 07:54