EU Ministers Worry Trump's Cryptocurrency Policies May Destabilize Markets

European Union ministers have voiced apprehensions regarding the potential repercussions of Donald Trump's cryptocurrency policies. This concern arises as the EU prepares to counter the initial wave of U.S. tariffs, which include a 25% levy on aluminium and steel imports. The EU's strategy involves leveraging life-saving medicines as a countermeasure to Trump's aggressive trade policies, which have historically targeted key trading partners with tariffs and delays.

Trump's cryptocurrency venture has reportedly generated significant revenue, with at least $350 million raised from the launch of his memecoin. This financial success has raised concerns about potential conflicts of interest, which could impact global financial stability. EU ministers are particularly worried that Trump's policies could exacerbate instability in the already volatile cryptocurrency market.

The EU's concerns are set against a backdrop of heightened global market focus on trade tensions. The overall market sentiment has been influenced by Trump's tariffs and his willingness to endure economic strain. The EU's decision to use medicines as leverage is seen as a strategic response to Trump's policies, which have historically included tariffs on major trading partners and delays in some of them. EU ministers are apprehensive that Trump's policies could further destabilize the global market, which has already experienced significant volatility.