President Donald Trump has threatened major import tariffs against the European Union (EU) and Canada if they worked together “to do financial damage” for the United States

“If the European Union works with Canada to do financial damage to the United States, there will be a large scale, far greater than currently planned, on both of them to protect the best friend that each of these two countries has ever had!” Trump said in a late Wednesday night post about truth social.

However, financial markets remain stable in the wake of the new threat with BTC in Stasis below $ 88,000. Germany’s DAX futures fell 0.3%while their Wall Street colleagues traded flat for positive.

The resistance in the market probably comes from Federal Reserve -President Jerome Powell’s recent indication that the inflation pressure caused by tariffs could be transient.