Trump's Tariff Announcement Met With a Torrent of Criticism

US lawmakers, think tanks, and attorneys strongly criticized President Trump's announcement of a new 10% global tariff, which followed the Supreme Court striking down his authority to levy tariffs under the IEEPA. Senator Rand Paul called the tariffs a tax increase on working families and small businesses, while Representative Ro Khanna characterized them as funding a reckless trade war. Scott Lincicome of the Cato Institute warned that high tariffs will likely remain the norm, damaging the economy and foreign relations. Despite the criticism, crypto markets remained relatively stable, with Bitcoin's price rising slightly after the announcement. Furthermore, pro-crypto attorney Adam Cochran suggested the legal scope of the new tariff is limited, citing restrictions on which countries it can apply to and for how long.

(Source：Cointelegraph)