$BTC Today's Cryptocurrency News: Federal Court Overturns Trump's "Liberation Day" Tariffs

A federal court dealt a significant blow to President Donald Trump's aggressive trade agenda by overturning the tariffs widely announced on "Liberation Day," deeming the executive action unconstitutional.

The U.S. District Court for the District of Columbia sided with a coalition of businesses, trade groups, and international allies who argued that the tariffs violated the separation of powers in the Constitution.

Trump announced the tariffs earlier this year as a cornerstone of his economic strategy. The tariffs targeted imports from China, Mexico, and Canada, imposing duties on key goods such as cars, electronics, and agricultural products.

Trump portrayed the policy as a step "to liberate America from foreign economic dependence." However, the court did not agree with the legality of bypassing Congress.

Instead, it reaffirmed that the Constitution grants Congress, not the President, the primary authority to regulate international trade under the Commerce Clause.

“The President’s assertion of tariff authority in this case exceeded, without any limitations in duration or scope, any tariff authority delegated to the President under IEEPA,” the judges ruled.

The decision leaves the future of Trump's trade policy in a state of uncertainty....