In the paper today I saw the term Taco = Trump Always Chickens Out. He reversed tariffs on China with little concession from them. He's a bullshitter. Apple won't make their phones in the US as they would be too expensive. I've no idea how this will affect Bitcoin. That's up to the speculators.
That's true. But the EU doesn't have the same leverage as China did, because they are in the same bucket as the US, using manufacturing from China, while with the US they have high trade volume, but few things that are indispensable or can't be found on other markets.
Their leverage against the US tariffs might be to not increase their business deals with China (or maybe even decrease it, if Trump gets his way) if the US doesn't increase the tariffs.
Price isn't always made by speculators. It can be a reaction to what happens in the world.