After a few months of playing the waiting game, US President Donald Trump has decided to spice things up a bit. In a whirlwind of activity, he’s slapped a whopping 30% tariff on Mexico and the entire European Union. It’s like he’s trying to start a global trade dance-off, and the rest of the world is left wondering if they should tap their toes or stomp their feet in protest.
BREAKING: President Trump announces 30% tariff on the European Union and Mexico.
Trump says if they retaliate, these tariffs will be raised by the same amount as the retaliation.
— The Kobeissi Letter (@KobeissiLetter) July 12, 2025
The letter addressed to “Her Excellency” – EU’s Ursula von der Leyen, is a masterpiece of diplomatic doublespeak. Trump writes that it’s his “great honor” to show the strength and commitment of the trading relationship between the US and the EU, despite the fact that the US has “one of the largest trade deficits” with the Union. It’s like saying, “I love you, but I’m going to take your favorite toy and see if you still want to play.”
According to the letter, the 30% tariffs, set to kick in on August 1, are meant to create a “more balanced and fair trade” that will allow the US to continue its relationship with the EU. But let’s be real, it’s more like a game of “I’ll take your candy, and you can have a tiny piece back if you’re nice.”
Trump’s letter also demands that the EU “allow complete, open market access to the United States, with no tariff being charged to us, in an attempt to reduce the large trade deficit.” And just in case the EU decides to play hardball, Trump adds a little warning:
“If for any reason you decide to raise your tariffs and retaliate, then, whatever the number you choose to raise them by, will be added onto the 30% that we charge.”
The letter to the Mexican President, Dr. Claudia Pardo, is a carbon copy with the same charming threat. It’s like Trump’s sending out the same birthday card to everyone, but with different names scribbled in the corner.
Now, let’s talk about the elephant in the room – or should I say, the digital elephant in the crypto room. Bitcoin, the world’s favorite digital currency, has a history of reacting to Trump’s tariff tantrums. Back in April, when Trump was busy slapping tariffs on every country that dared to breathe, BTC took a nosedive from over $100,000 to under $75,000, marking a five-month low. It was like watching a rollercoaster drop from the top of the hill.
But Bitcoin is nothing if not resilient. It’s since recovered and even hit a new all-time high earlier this week at over $119,000. The question now is, will the latest set of tariffs send Bitcoin into a tailspin, or will it rise above the chaos and continue its ascent? Only time will tell, but one thing’s for sure – it’s going to be a wild ride! 🚀
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2025-07-12 16:15