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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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Dare to trade. Dare to win.
Trump delays EU 50% tariffs, pushing Bitcoin back up to $109,000.
Gate News bot message, after U.S. President Donald Trump announced the postponement of the 50% tariff measures on EU goods to July 9, the price of Bitcoin rose to over $109,000 last Sunday evening. Prior to this, European Commission President Ursula von der Leyen communicated via phone to request a delay and confirmed that negotiations between the two sides were about to begin.
On Friday, Trump proposed imposing a 50% tariff on all EU imports starting next month. He cited trade imbalances and regulatory friction, stating that the current EU-US trade relationship is "completely unacceptable."
He also issued a "threat" to Apple Inc., stating that he might impose a 25% tariff on iPhones not made in the United States.
After Trump announced the tariff measures, the price of Bitcoin once fell below $108,000, further retreating to below $107,000 over the weekend. However, after Trump decided to postpone the policy, the price of Bitcoin rebounded.
Last Sunday, Trump posted on Truth Social that after receiving assurances from Ursula Gertrud von der Leyen, President of the European Commission, that the EU is ready to "quickly and decisively advance negotiations," he agreed to extend the deadline to July 9.
This decision was made at the direct request of von der Leyen, aimed at temporarily alleviating the escalating transatlantic trade tensions and opening a window for resuming negotiations.
Bitcoin traded relatively flat over the weekend, but surged by more than $1900 within minutes after the news was released. As of the time of writing, Bitcoin's trading price is close to $109,000, which is only about 2.5% lower than the historical high of $111,900 set earlier this week.
With the rise of Bitcoin, other major crypto assets have also followed suit. According to CoinGecko, Ethereum (ETH), Ripple (XRP), and Solana (SOL) have all seen an increase after Trump announced this news.
Among the outstanding tokens in the past week, Hyperliquid's native coin HYPE led the rise, climbing from $25.7 to $39, with a weekly pump of approximately 46%.
Meanwhile, World's native token, WLF, rose nearly 25% after World, led by OpenAI CEO Sam Altman, announced a $135 million funding round led by a16z (Andreessen Horowitz) and Bain Capital Crypto. The new funding will accelerate the deployment of its iris scanning Orbs and expand its biometric infrastructure in the U.S. and international markets.
Source: Crypto Briefing