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The tariffs that triggered major crashes in Bitcoin and altcoins may be coming to an end. According to CNBC, the US Supreme Court is expected to rule on the legality of the tariff measures implemented by President Donald Trump and his administration.
The Supreme Court announced on its official website on January 6 that the judges would meet in closed session on January 9 and might reach a decision. However, the court did not specify which case the decision would relate to. This fueled speculation that the decision would be about tariffs.
However, Walter Bloomberg recently reported that the US Supreme Court will not be making a decision on Friday regarding Trump’s tariff case.
The court may rule that the tariffs imposed by the Trump administration are illegal. However, this may not stop Trump. Market experts say that even if the Supreme Court blocks the tariffs, the administration is likely to keep them in place through other legal means.
Experts say the focus here is whether the tariffs imposed by the Trump administration, based on the International Emergency Economic Powers Act (IEEPA), are permissible under the Constitution and related laws.
If the court finds these measures unconstitutional or illegal, the question will arise as to whether those who have already paid customs duties will have the right to a refund.
Speaking to CNBC, Jose Torres, chief economist at Interactive Brokers, said, “Even if the court blocks the tariffs, it’s highly likely the administration will find a solution through other legal means. A sudden shift in overall policy stance is unlikely.”
Kevin Hassett, director of the White House National Economic Council (NEC), also indicated that Trump is prepared for every decision, saying that if the Supreme Court’s tariff decision is unfavorable, Trump has other options.
Experts also note that the direction of the Bitcoin price depends on the US Supreme Court’s decision regarding Trump’s tariffs.
A ruling that customs tariffs are unconstitutional could ease companies’ cost burdens and potentially boost risk appetite. This would be good news for Bitcoin, while conversely, an unexpected outcome could trigger a sharp correction for BTC.
*This is not investment advice.