Markets reacted sharply after Trump called for 50% tariffs on Europe, sending Bitcoin and equities tumbling. In today’s crypto news, Bitcoin’s record-breaking rally hit a wall Thursday as President Trump reignited trade war fears with a threat to slap the European Union with a 50% tariff. The market didn’t take it well. “Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025,” said Trump.