The U.S. Supreme Court has invalidated the broad tariffs imposed globally by former President Donald Trump, ruling that he exceeded his authority under the National Emergency Act of 1977. Trump had levied import tariffs ranging from 10 to 50 percent on key trading partners at the start of 2025, citing trade deficits and national security concerns, including fentanyl smuggling. However, the Court clarified that the constitutional power to impose tariffs rests with Congress, not the executive branch. This decision dealt a significant blow to Trump’s economic policies, even before three judges he appointed. Following the verdict, Bitcoin prices rose by nearly two percent, temporarily surpassing $68,000 in the U.S. financial markets. While the ruling may reduce uncertainty in global trade, it raises questions about the potential refund of tariffs collected under the emergency authority, impacting federal finances. Economists warn that balancing rising inflation with slow growth will be challenging for the U.S. economy, and digital assets like Bitcoin have become focal points for investors reacting differently than traditional markets. The Supreme Court’s decision limits presidential tariff powers, returning authority to Congress, leaving lawmakers to decide whether to continue Trump’s trade policies or pursue new directions.
Source: bitcoinmagazine
