US Supreme Court overturns tariffs, boosts Bitcoin and stocks
6.9 Regulation US Supreme Court overturned Trump tariffs, boosting stocks and Bitcoin. Over $175B may be reimbursed. Crypto impact is limited for now, but uncertainties persist.
The US Supreme Court has overturned key elements of the global tariffs imposed by the Trump administration under the International Emergency Economic Powers Act (IEEPA). The Court ruled that the president exceeded his authority by imposing broad tariffs, resulting in a 6-3 verdict. This decision led to a boost in major Wall Street indexes and triggered a rapid rebound in Bitcoin’s price, which briefly surged to $68,200 before pulling back. Experts highlight that over $175 billion collected from these tariffs may now be subject to reimbursement. Despite the immediate positive market reaction, analysts suggest that the effects on the cryptoasset sector will likely remain limited in the short term. Other legal grounds still permit the imposition of tariffs, and the political environment could shape the sector’s regulatory future. The broader economic outlook remains cautious, with GDP growth falling short of expectations and inflation staying above projections.
