The United States Supreme Court, by a 6-3 majority, struck down the sweeping import tariffs that Donald Trump implemented during his presidency. The Court stated that such sweeping taxes could not be enacted by the president alone under the International Emergency Economic Powers Act. The law in question normally grants the president additional powers only in times of crisis and threats against the United States. During his term, Trump imposed tariffs ranging from 10 to 50 percent on imports from almost all major trading partners, citing trade deficit and national security reasons.
Reasons for the Supreme Court’s Decision
Announcing the reasoned decision on behalf of the majority, Supreme Court Chief Justice John Roberts stated that the authority to regulate taxes clearly belongs to Congress in the US Constitution. Roberts noted that no president in the past has used national emergency legislation as a basis for such large-scale tariffs. The view that Trump exceeded the limits of this authority in his practice had previously come to the fore in lower courts.
Bitcoin and Market Reactions
The Supreme Court decision caused sudden movements in financial markets. Immediately after the decision was announced, Bitcoin rose nearly 2 percent to over $68,000, and although it remained above this level for a short time, it later fell to $67,500. The corrections that followed the news-driven rapid rises that have been frequently observed in digital assets recently were repeated in this development.
This activity in the markets revealed that uncertainty about the economic effects of the decision continues. While some investors think that the canceled tariffs will reduce uncertainty in global trade, others emphasize that a huge tax revenue that the US Treasury may have to pay back could raise new question marks in the budget.
It is being discussed whether some of the income obtained from the tax application will be refunded. According to some estimates, the tax revenue collected with the emergency authority is more than $133 billion, and Trump is reported to have said that $600 billion was obtained from the total program. The repayment of large amounts may affect the balances in the US treasury market for the coming period.
Looking at economic data, the latest report from the US Department of Commerce shows that the economy grew by 1.4 percent in the last quarter of 2025.
Possible Consequences for Bitcoin
In the cryptocurrency market, the consequences of the decision taken in terms of financial flows and risk appetite rather than trade volume come to the fore. As in past examples, short-term joint movements were observed in Bitcoin and stocks as commercial uncertainty disappeared. While the court decision lifts the customs duties, it remains unclear how Washington will balance the budget deficit that may arise.
Stephen Coltman, head of macro strategies at 21Shares, stated before the decision that a decision against the administration could pressure the US dollar and bond markets, while stocks and Bitcoin could come to the fore.
Matthew Sigel, one of VanEck executives, argues that the decrease in tariff revenues may increase the budget deficit, and such uncertainties feed interest in assets such as Bitcoin.
Following the decision, it appears that the presidential authority’s authority over customs tariffs has narrowed, and this authority has once again been transferred to Congress. It is not yet clear whether Congress will make practices similar to Trump’s trade policy permanent in the future. Bitcoin is trading around $67,600 after the decision.
