Trump Reaffirms 50% Tariff on EU; Considers Waiver if Factories Built in US

Doohyun Hwang

Summary

President Trump reaffirmed his 50% tariff policy targeting the EU, stating that a waiver could be considered if production facilities are established in the US.
He clarified plans to impose a 25% tariff on all mobile phone manufacturers, including Samsung and Apple.
Following Trump's remarks, Bitcoin plummeted to around $107,000 and continues to show a downward trend.

US President Donald Trump reaffirmed his stance on a 50% tariff targeting the European Union (EU). However, he hinted at the possibility of a waiver if production facilities are established in the US.

On the 23rd (local time), President Trump stated in the Oval Office, "The EU tariff is already set at 50%, and we will stick to it," adding, "If they build factories in the US, we can discuss a waiver."

He also clarified the tariff policy on mobile phone manufacturers. President Trump stated, "We will impose a 25% tariff on all mobile phone manufacturers not producing in the US," adding, "Samsung and Apple are no exceptions. We will implement this measure by the end of the month."

The cryptocurrency market turned bearish. Bitcoin (BTC), which had surpassed $110,000 to reach an all-time high earlier in the day, plummeted to around $107,000 following President Trump's EU tariff remarks. Currently, Bitcoin is trading at approximately $108,660 on the Binance Tether (USDT) market, down 2% from the previous day.