The EU is preparing to respond to US tariffs, which threatens significant economic ramifications for both Europe and America.
EU's Response to US Tariffs
The European Commission, representing trade and economic security, confirmed that the EU is ready to implement counter-tariffs on US imports amounting to €72 billion. This announcement was made on July 14 in response to President Trump's announced new tariffs on EU imports effective August 1.
Cryptocurrency Market Amid Trade Disputes
Currently, the impact on the cryptocurrency market remains minimal, though broader risk may increase volatility across financial markets. As of July 14, 2025, Bitcoin's price stood at $119,700.91, with a market cap of $2.38 trillion.
Economic Consequences for Transatlantic Trade
According to Maroš Šefčovič, significant economic implications could arise from new tariffs, jeopardizing trade relations between the EU and US, as current trade amounts to about €4 billion daily. This highlights the importance of reaching an agreement before sanctions are imposed.
Thus, the EU's countermeasures may significantly alter the dynamics of transatlantic trade and trigger additional turmoil in financial markets, including the cryptocurrency market.