🔥 The battle between U.S. executive power and legislative power escalates, and the chain reactions in the cryptocurrency market cannot be ignored 📉📈
Core Event
On November 11, Trump publicly warned: If the Supreme Court makes an unfavorable ruling on his tariff policy, the United States could face losses exceeding $30 trillion, including tariff refunds, investment shrinkage, and capital outflows. He emphasized that this would have a 'devastating' impact on national security and the economy.
The focus of this case is whether the president has the authority to invoke the International Emergency Economic Powers Act to impose broad tariffs. The Supreme Court currently seems skeptical, believing this may cross the boundaries of executive power.
Policy background and controversy
• In April 2025, Trump introduced 'reciprocal tariffs' with a minimum tax rate of 10%, and some countries as high as 145%, aiming to 'correct trade imbalances.'
• Congress and businesses strongly oppose, believing that tariffs raise prices and weaken export competitiveness.
• The lower court previously ruled that the policy was illegal, and the case has gone all the way to the Supreme Court.
Three possible directions
1. Maintain tariffs: Global trade uncertainty continues, and U.S. inflation pressure remains high.
2. Revoke tariffs: Up to $1 trillion in taxes must be refunded, boosting market confidence in the short term.
3. Compromise solution: Limit presidential tariff powers, with a slight recovery in global trade.
Impact on the cryptocurrency sector 📊
• Risk aversion: If the ruling is unfavorable, tight USD liquidity may drive up short-term demand for safe-haven assets like BTC and ETH.
• Cross-border payments: The global trade landscape is being reshaped, which may accelerate the use of digital currencies in international settlements.
• Market volatility: Policy reversals may lead to severe fluctuations in cryptocurrencies, requiring cautious position management.
Thoughts from Sister IELTS
This is not only a power struggle within the U.S. but also a 'stress test' for the global trade order. For the cryptocurrency sector, the short term is a game of sentiment and capital, while the long term concerns the strategic position of crypto assets in the global financial system. Investors should pay attention to the ruling results, USD trends, and changes in global risk appetite, preparing in advance to avoid being caught off guard by 'policy black swans.'
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