The U.S. Court of International Trade in Manhattan has ruled that former President #DonaldTrump global trade tariffs were illegal. The decision follows months of market turbulence triggered by the tariffs, which were imposed on numerous countries, including Indonesia.
Despite the ruling, the Trump administration has rejected the verdict and may appeal to the Supreme Court. The reciprocal tariffs had caused significant volatility in financial markets, with stocks and cryptocurrencies affected— #bitcoin even dipped and stagnated before eventually recovering to the $100,000 level.