- Trump confirmed Fed Chair Jerome Powell “will leave very soon” while once again calling for rate cuts during a major trade deal announcement.
- The U.S.–EU agreement includes $750B in energy purchases, hundreds of billions in defense contracts, and $600B in direct EU investment.
- Bitcoin surged to over $119,000 following the announcement, as markets interpreted the news as bullish for growth and crypto.
In a high-stakes press conference alongside U.K. Prime Minister Keir Starmer, President Donald Trump announced a sweeping $2 trillion trade agreement with the European Union—and used the moment to fire a parting shot at Federal Reserve Chair Jerome Powell. Trump quipped that Powell “will leave very soon,” adding, “I’ll miss him,” as the room of reporters chuckled. While the remark was delivered in a light tone, it marks another pointed jab in Trump’s long-standing campaign to push Powell toward interest rate cuts.
The newly confirmed trade pact is historic in scale. The EU has committed to purchasing $750 billion in U.S. energy and hundreds of billions more in American military hardware. Additionally, a $600 billion EU investment commitment into the U.S. economy is set to deepen transatlantic ties and fuel industrial growth across key sectors.
Trump said the deal includes 15% U.S. tariffs across the board, while the EU will grant U.S. companies tariff-free access in several strategic sectors. The terms of the agreement appear to reinforce Trump’s policy of aggressive economic leverage to achieve international cooperation on trade and defense spending.
Markets reacted swiftly to the news, with Bitcoin jumping to over $119,000 in the aftermath of the announcement. Investors appear to be interpreting the trade deal—and Trump’s renewed pressure on Powell—as bullish signals for the U.S. economy and digital assets.
