Supreme Court to Rule on Legality of Trump's Tariffs, Potentially Affecting $600 Billion
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Tariff Legality Hearing: The Supreme Court is set to rule on the legality of Trump's 'Liberation Day' tariffs this Friday, with a potential ruling against them leading to refunds of up to $600 billion, significantly straining government finances and initiating a lengthy legal process for companies seeking returns.
- Market Volatility Expectations: Markets are bracing for heightened volatility in U.S. equities and cryptocurrencies if the Supreme Court invalidates the tariffs, which could exacerbate macroeconomic uncertainty and impact investor confidence.
- Alternative Strategy Considerations: White House economic adviser Kevin Hassett noted that the administration may explore alternative strategies if the tariffs are overturned, indicating a focus on policy flexibility in response to fiscal challenges.
- Crypto Market Stability: Despite economic and regulatory turmoil, Bitcoin remains priced at $90,164.90 with a market dominance of 58.48%, reflecting the cryptocurrency market's relative resilience amid macroeconomic uncertainties.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
