Trump Extends EU Trade Talks 90 Days Bitcoin Rebounds 10%

U.S. President Trump has announced a reversal in his stance on trade negotiations with the European Union, agreeing to extend the negotiation window by 90 days until July 9th. This decision comes after the European Union requested an extension, aiming to continue discussions and avoid the imposition of a 50% tariff on EU imports, which was initially set to take effect on June 1st.

Trump's earlier statement on May 23rd had indicated a more aggressive approach, suggesting that the EU's primary goal was to exploit the U.S. in trade negotiations. He had proposed a direct 50% tariff on EU products starting from June 1st, 2025, which briefly led to a drop in U.S. stocks and Bitcoin prices.

Following Trump's reversal, Bitcoin experienced a significant rebound, briefly surpassing $109,000 before stabilizing at $108,840. This fluctuation highlights the sensitivity of the cryptocurrency market to geopolitical events and policy changes.

The extension of the negotiation window is a strategic move that allows both the U.S. and the EU to continue dialogue and potentially reach a mutually beneficial agreement. This decision underscores the importance of diplomatic negotiations in resolving trade disputes and maintaining economic stability.

The European Commission President von der Leyen had previously expressed readiness to advance trade negotiations swiftly and decisively, emphasizing the need for a return to the originally agreed 90-day negotiation period. This alignment with Trump's latest decision indicates a shared commitment to resolving trade issues through dialogue.

Overall, the extension of the negotiation window and the subsequent rebound in Bitcoin prices reflect the dynamic nature of international trade relations and the impact of policy decisions on global markets. The situation remains fluid, with both sides working towards a resolution that benefits their respective economies.