Bitcoin Pops After Supreme Court Strikes Down Trump’s Tariffs

The U.S. Supreme Court ruled 6-3 that President Donald Trump exceeded his authority by imposing broad global tariffs under a national emergency law, invalidating duties levied in early 2025. Chief Justice John Roberts stated the Constitution reserves taxing power for Congress, noting no previous president used the statute for tariffs of that magnitude. The ruling, which marks a setback for Trump's second-term economic agenda, sent Bitcoin up about 2% initially before it settled, reflecting market uncertainty over potential fiscal impacts, including billions in potential tariff refunds.

Market reaction was mixed; some investors saw the removal of tariffs as easing trade uncertainty, while others worried about fiscal gaps and Treasury financing needs. Economically, the ruling coincided with data showing slower GDP growth and persistent inflation, reinforcing expectations for cautious Federal Reserve action.

For Bitcoin traders, the focus was less on trade and more on liquidity and risk appetite. Analysts suggested that while easing cost pressures is positive, the impact hinges on how the government addresses lost tariff revenue, with some arguing that increased deficits could boost assets like Bitcoin as hedges against currency debasement.

(Source：Bitcoin Magazine)