Unsubstantiated Rumors of Potential 30% Tariff Threat from U.S.-EU Spark Market Uncertainty
In the world of global trade, the EU and US are locked in a tense standoff, with both parties threatening tariffs on each other's goods. As of late July 2025, the U.S. government, under President Donald Trump, has announced its intention to impose 30% tariffs on imports from the European Union, effective from August 1. However, these threats have not yet been formalized through official government channels or legislation.
On the European side, the European Commission has prepared a reciprocal tariff package that would impose up to 30% tariffs on about €100 billion ($117 billion) worth of U.S. goods. This package combines tariffs already approved on €21 billion in U.S. goods with an additional proposed €72 billion list to be rapidly enforced if a no-deal scenario occurs.
Negotiations between the EU and US have been active, with some recent optimism that an agreement could be reached to avoid full escalation. A likely compromise under consideration involves the US imposing roughly 10% tariffs on most EU goods instead of 30%, with certain sectors (autos, steel, aluminum, copper) facing higher rates, and key sectors such as pharmaceuticals initially exempt.
Meanwhile, in the realm of cryptocurrencies, Ethereum (ETH) continues to soar. Currently trading at $3,639.32, Ethereum boasts a market cap of $439.31 billion and dominance at 11.31%. Over the past 90 days, ETH has appreciated 105.40%. This surge in demand has driven its price to new highs, with resistance levels highlighted in the latest Glassnode analysis.
In other cryptocurrency news, John Kojo Kumi, a Crypto News Writer and Registrar at the Commission on Human Rights and Administrative Justice, has highlighted the bullish MACD (Moving Average Convergence Divergence) signal suggesting that Dogecoin may reach $0.70 next.
However, the potential tariffs could impact sectors like aviation and automotive, but the absence of official confirmations creates uncertainty. The EU is speculated to consider retaliatory tariffs on $117 billion of U.S. exports starting August, but no official confirmation exists.
It's important to note that neither the European Commission nor the U.S. government has released statements indicating the enactment of 30% tariffs on goods valued at approximately $117 billion. Jim Chanos, a well-known investor, has warned against corporate Bitcoin holdings due to valuation concerns.
In the midst of these global economic shifts, the DXY (Dollar Index) has fallen again. John Kojo Kumi, a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem, has pointed out the current NUPL (Network Value to Price) of Bitcoin, indicating potential room for further growth, with a possible trigger at $137K potentially leading to profit-taking.
Recently, Anchorage Digital has partnered with Ethena Labs to launch USDtb in compliance with the GENIUS Act. This partnership aims to provide a stablecoin pegged to the US dollar, offering a potential solution to the ongoing currency fluctuations in the global market.
In conclusion, the 30% tariffs remain a threat and preparation by both sides rather than a fully confirmed or implemented policy. The European Commission is publicly transparent about its no-deal contingency plans, whereas the U.S. government has issued warnings but not completed formal implementation processes. The global cryptocurrency market, on the other hand, continues to show signs of growth and innovation, with Ethereum leading the charge.
- In the cryptocurrency landscape, Ethereum (ETH) persists in soaring, with a current trading price of $3,639.32 and a market cap of $439.31 billion.
- John Kojo Kumi, a crypto news writer, has highlighted a bullish MACD signal suggesting that Dogecoin could potentially reach $0.70.
- Despite the ongoing tariff standoff between the EU and US in the world of global trade, Jim Chanos, a well-known investor, has warned against corporate Bitcoin holdings due to valuation concerns.
- In the realm of finance and business, Anchorage Digital has partnered with Ethena Labs to launch USDtb in compliance with the GENIUS Act, offering a potential stablecoin solution to ongoing currency fluctuations.
