President Donald Trump expressed dissatisfaction with ongoing Iran negotiations, while also announcing plans to raise tariffs on EU auto imports to 25%.
Oil prices eased amid renewed diplomatic signals, even as the conflict continues to disrupt supply routes.
Meanwhile, Bitcoin extended gains toward the $80,000 level as risk appetite improved.
Trump displeased with Iran talks amid ongoing conflict
Trump signaled frustration with the current state of negotiations with Iran, citing internal divisions within Tehran’s leadership as a key obstacle to reaching a deal.
“They want to make a deal but I’m not satisfied with it,” Trump told reporters at the White House Friday. “We just had a conversation with Iran. Let’s see what happens. But I would say that I am not happy.”
Iran recently delivered a new proposal to the United States via Pakistani mediators, according to its state-run Islamic Republic News Agency.
However, details of the proposal remain unclear, particularly regarding key issues such as the Strait of Hormuz and nuclear activities.
Trump reiterated his stance on maintaining pressure, touting what he described as an “incredible” blockade of the Strait of Hormuz. “The strait is totally shut down, it’s flawless. It’s 100% shut down.”
The disruption has had far-reaching implications for global energy markets, with hundreds of vessels stranded and shipping activity severely reduced.
The Strait of Hormuz typically handles about a fifth of global oil and liquefied natural gas flows.
“They’re having a tremendous problem getting along with each other,” Trump added, describing Iran’s leadership as fragmented. There are “two to three groups, maybe four, and it’s a very disjointed leadership.”
Trump raises EU auto tariffs to 25% amid trade tensions
In a separate development, Trump announced plans to increase tariffs on cars and trucks imported from the European Union to 25%, escalating tensions in transatlantic trade relations.
“I am pleased to announce that, based on the fact the European Union is not complying with our fully agreed to Trade Deal, next week I will be increasing Tariffs charged to the European Union for Cars and Trucks coming into the United States,” Trump said in a social media post. “The Tariff will be increased to 25%.”
The tariffs will apply only to vehicles imported from the EU, while those manufactured in US plants will be exempt.
“It is fully understood and agreed that, if they produce Cars and Trucks in USA Plants, there will be NO TARIFF,” Trump said.
The move marks a shift from a prior agreement that had capped tariffs on most EU exports at 15%.
It also comes as data shows a decline in UK exports to the US following earlier tariff measures, underscoring the broader impact of trade restrictions on global flows.
Brent crude slips as diplomacy hopes offset supply risks
Oil prices moved lower on Friday as markets reacted to signs of renewed diplomacy between the US and Iran, even as supply disruptions persist.
Brent crude traded above $108 per barrel, while US West Texas Intermediate crude fell around 3% to about $102.
Traders appeared cautious, balancing hopes for a resolution with ongoing constraints caused by the blockade.
The conflict has significantly disrupted shipping through the Strait of Hormuz, tightening global supply and contributing to elevated price levels in recent weeks.
Despite the pullback, uncertainty remains high.
Bitcoin rises as risk appetite improves
In cryptocurrency markets, Bitcoin moved higher on Friday, gaining nearly 2% over 24 hours and approaching the $79,000 level.
The rally coincided with broader gains in US equities and easing oil prices, reflecting improved risk sentiment among investors.
Bitcoin was last trading around $78,700, having previously approached $80,000 earlier in the week before pulling back.
Market participants are closely watching whether bitcoin can break through this key level, which could trigger further buying and signal a shift in momentum.
This post Evening digest: Trump displeased with Iran talks, jolts EU with auto tariffs may be modified as updates unfold
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