Overview
- In a 6-3 ruling, the Court said the president exceeded authority under the International Emergency Economic Powers Act, reaffirming Congress’s role over tariff policy.
- Markets saw only brief, headline-driven moves, with bitcoin popping near $68,000 before slipping back and equities posting modest gains.
- After first outlining a new 10% across-the-board tariff under other trade authorities, President Trump said he is increasing the planned rate to 15% in public posts.
- Uncertainty over previously collected duties looms, with reports pointing to potential refund exposure exceeding $100 billion and Justice Brett Kavanaugh warning the process could be a “mess.”
- Analysts caution that lost tariff revenue may widen fiscal gaps and weigh on the dollar, a backdrop some say could support bitcoin’s debasement-hedge narrative as Congress and the White House map next steps.