The US Supreme Court ruled 6-3 to overturn tariffs imposed by the Trump administration under the International Emergency Economic Powers Act (IEEPA). The Court found that trade tariffs are not a national security matter and exceed presidential authority.
Market reaction
Following the court's announcement, Bitcoin surged from $65,500 to $68,000 within an hour. However, the rally proved short-lived — the price pulled back to $66,800 after Trump announced a new 15% universal tariff through a different legal framework.
Timeline of events
- 10:00 AM EST — Supreme Court announces 6-3 ruling against IEEPA tariffs
- 10:15 AM EST — Bitcoin jumps from $65,500 to $68,000
- 11:30 AM EST — Trump announces 15% alternative tariff
- 12:00 PM EST — Bitcoin retreats to $66,800
What does this mean for crypto?
The Supreme Court ruling limits the president's ability to unilaterally impose trade tariffs, reducing uncertainty for global markets. However, Trump's willingness to use alternative legal mechanisms suggests continued trade conflicts, which could keep volatility elevated.
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