US President Donald Trump recently suggested families reduce gift-giving this year due to tariffs. Small businesses, like Mischief Toy Store, are suing Trump over his tariff plan. Trump's power to impose tariffs is not directly from the Constitution but delegated by Congress. The Reciprocal Trade Agreement Act of 1934 allowed presidents to set tariff rates through agreements. Trump's unilateral tariffs, based on the International Emergency Economic Powers Act, have faced legal challenges. States argue that Trump's tariffs exceed his authority and violate the separation of powers. The legal battle questions the constitutionality of Trump's tariff actions. Despite uncertainties, courts may lean towards the states. Trump's track record in court has been poor. The outcome of the tariff dispute could impact the crypto market, potentially validating cryptocurrency as a medium of international trade. Read more AI-generated news on: https://app.chaingpt.org/news