Trump raises global tariff to 15% after court ruling, signals more trade measures
President Donald Trump announced an immediate increase in a global tariff from 10% to 15%, following a Supreme Court 6-3 decision that struck down certain duties imposed under the International Emergency Economic Powers Act (IEEPA). The White House said it will rely on Section 122 of the Trade Act to impose temporary import levies and signaled further tariff actions soon. Trump posted the change on Truth Social and affirmed that national security and trade-enforcement tariffs remain in full effect. The administration’s tariff program — excluding energy products and pharmaceuticals — continues to target imports such as steel, aluminum, automobiles and copper, with targeted measures aimed at goods from China, Canada and Mexico. Officials frame the policy as a way to protect U.S. manufacturing, reduce the trade deficit and raise federal revenue; investigations into alleged unfair practices by trading partners could prompt additional measures.
Bearish
A sudden global tariff increase to 15% raises import costs and heightens geopolitical and trade uncertainty—factors that typically weigh on risk assets, including cryptocurrencies. Higher tariffs can slow economic growth, reduce corporate profits for exposed sectors, and reduce cross-border trade flows. Traders often react to such macro risks by moving into safe havens or liquidating leveraged positions, increasing volatility and downward pressure in crypto markets. The administration’s broad, persistent tariff stance and potential for additional measures (plus investigations of trading partners) increase policy risk and market unpredictability. Historically, periods of trade escalation (e.g., 2018–2019 U.S.-China tariff rounds) coincided with heightened crypto volatility and risk-off flows; BTC and altcoins experienced sharp drawdowns during global risk sell-offs. Short term: expect increased volatility and likely downward pressure as markets reprice macro risk and liquidity tightens. Long term: if tariffs materially slow global growth or trigger sustained trade fragmentation, crypto could face prolonged risk-off sentiment; however, some traders might view crypto as a non-sovereign store of value, producing mixed, asset-specific responses over time.