Bitcoin falls as President Trump announces new iPhone and EU Tariffs

The week has been monumental for Bitcoin. In a surprising twist of events, Bitcoin The price of the Apple iPhone dropped on Friday after news broke that US President Donald Trump had announced brand-new tariffs for European Union (EU).

The week has been monumental for Bitcoin as it surged up to an all-time record high of $111,000, on Thursday. There are also expectations that the recent surge in Bitcoin could signal the start of a bull run. This potential could be derailed by new policies, which could frighten the investors.

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New Trump Tariffs Reverse Bitcoin’s Record Surge

Bitcoin is having a great week. It has seen a price rise that is unprecedented. The asset has also reached new landmark levels. Texas House of Representatives has sent to governor’s office a Bill to create a BTC Reserve. This would have a huge impact on the future value of BTC.

On Friday, the market began to worry that more losses were imminent. Bitcoin, in particular, fell off its record pace when US President Donald Trump took office. threatening brand-new Tariffs for both Apple iPhones and EU bloc.

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BTC dropped as much as 4 percent immediately following the headlines. According to Reuters, the asset recovered a bit, trading around $109,000 at midday, just down 1%. CoinMarketCap.

Apple products would be subject to a 25% increase in import duties. The Trump plan includes a new tariff of 50% on EU imports. Trump says that the trade negotiations with the EU are not going anywhere.”

Moreover, he targeted Apple over rumblings that the company would be set to produce products in India. Trump said, “The iPhone I am expecting to be sold here in America is going to be made and assembled in America. Not in India.