The crypto market reacted positively to the European Union deciding to expedite trade negotiations with the United States.

The total crypto market cap grew 2.67% within 24 hours to $3.45 trillion at the time of writing. As per Kraken's price feed , Bitcoin was quoting at $110,019 at press time, up 2.85% in a day. Ethereum was trading at $2,566.62 at press time, up 2.20% in a day.

Other altcoins have also soared following the announcement.

XRP was trading at $2.32, up 2.08% in a day. SOL was trading at $176.78, up 4.13% in a day. The leading meme coin, DOGE , was trading at $0.2260, up 3.96% in a day.

On May 26, both U.S. President Donald Trump and European Commission President Ursula von der Leyen provided an update on social media that they had a call in which von der Leyen requested Trump to extend the 50% tariff deadline from June 1 to July 9 so that the talks can advance "swiftly and decisively."

The EU said it decided to accelerate negotiations with the U.S. to avoid a transatlantic trade war, Bloomberg reported . While the 27-country bloc is prioritizing a negotiated solution with the U.S., it's also preparing to retaliate if necessary.

Earlier on March 23, Trump announced a 50% tariff on all EU imports, effective June 1. The tariff threatens $321 billion worth of US-EU goods trade that could hike prices by more than 0.3%, according to Bloomberg Economics calculations.

So far, both sides have failed to find a middle ground, as the EU complained of a lack of clarity regarding the U.S.'s requirements and the U.S. criticized the EU for unfairly targeting American companies with lawsuits and regulations.

"Countries from all over the World want to make TRADE DEALS with us. IT IS A BEAUTIFUL THING TO SEE," Trump wrote on the Truth Social platform.

Markets surge on Trump's latest tariff decision first appeared on TheStreet on May 26, 2025