Trump Flip-Flops Again, Restores 90-Day Negotiation Window with EU, Bitcoin Rebounds, Briefly Breaks $109,000

On May 26th, U.S. President Trump declared that the European Union had requested an extension of the trade negotiation period and had reached an agreement to push the deadline forward until July 9th. In the previous week, Trump announced that starting from June 1st, a 50% tariff would be imposed on imports from the European Union. Earlier, European Commission President von der Leyen expressed her willingness to "swiftly and resolutely" promote trade negotiations with the U.S. after a conversation with Trump, but she insisted that Trump return to the originally agreed 90-day negotiation period. After Trump's change of stance, Bitcoin briefly rose above $109,000 and is currently trading at $108,840. Prior to this, on May 23rd, Trump stated, "The main purpose of the establishment of the European Union is to take advantage of the U.S. in trade. The U.S. has made no progress in negotiations with them, and I suggest imposing a direct 50% tariff on EU products starting from June 1, 2025." This statement briefly led to a decline in U.S. stocks and Bitcoin.