President Trump has implemented hefty tariffs on goods imported from the European Union, signaling a significant escalation in trade tensions between the US and Europe. The tariffs, effective June 1st, target EU imports as retaliation for perceived unfair trade practices by the bloc. This move has sparked market uncertainty, with financial markets globally registering declines, particularly in European equities. While cryptocurrencies haven’t been immediately impacted by this development, the broader geopolitical implications are far-reaching. The tariffs have a direct impact on American consumers and businesses reliant on EU goods, while casting a shadow over future trade agreements between the US and the EU.