EU Ministers Worry Trump's Cryptocurrency Policies May Spark Global Market Instability

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 included tariffs on key trading partners and delays in negotiations.

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 cryptocurrency market, which has already experienced notable volatility.

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 key trading partners and delays in negotiations. EU ministers are apprehensive that Trump's policies could further destabilize the global market, which has already shown significant volatility.