The cryptocurrency markets are facing significant downturns as tensions rise in tariff talks between the United States and the European Union.
Decline in Cryptocurrencies
Against the backdrop of deteriorating trade relations between the US and EU, Bitcoin and other cryptocurrencies are experiencing continued declines. Notably, as the weekend approaches, the crypto market faces selling pressure and uncertainty.
US-EU Tariff Disputes
Current tariff negotiations between the US and the European Union are becoming increasingly tense. The US has threatened a 17% tariff on EU agricultural products if a mutually beneficial trade deal is not reached. In response, the EU is working to extend the suspension of tariffs if a broader agreement remains elusive.
Prospects for Further Negotiations
Discussions between the US and EU are ongoing, and further escalation of positions from both sides is expected. If an agreement is not secured by July 9, the US may impose a 20% tariff on all EU goods.
The complexities and uncertainties in the tariff negotiations between the US and EU continue to exert pressure on the crypto market, raising concerns among participants and experts.
