The tariffs responsible for significant declines in Bitcoin and various altcoins might soon be overturned. CNBC reports that the United States Supreme Court is anticipated to deliver a verdict on the legality of the tariff policies enacted during President Donald Trump’s administration.
On January 6, the Supreme Court announced via its official website that justices would convene in a private session on January 9, with a potential ruling forthcoming. Although no specific case was mentioned, this announcement sparked widespread speculation that it could pertain to tariff-related issues.
Nevertheless, Walter Bloomberg recently clarified that the Supreme Court will not issue any decision regarding Trump’s tariff dispute on Friday as initially expected.
There is a possibility that the court may declare these tariffs unlawful. However, such a ruling might not deter former President Trump or his administration from maintaining these trade measures through alternative legal avenues. Market analysts suggest that even if blocked by the court, efforts to uphold tariffs are likely to continue via other means.
The core issue revolves around whether tariffs imposed under the International Emergency Economic Powers Act (IEEPA) comply with constitutional and statutory requirements.
If deemed unconstitutional or illegal by the court, questions will arise about whether importers who have already paid duties are entitled to reimbursement.
Jose Torres, chief economist at Interactive Brokers, told CNBC: “Even if these tariffs are struck down by the court, it's very probable that other legal strategies will be employed by the administration. A sudden reversal of policy seems unlikely.”
Kevin Hassett, director of the White House National Economic Council (NEC), also remarked that President Trump has contingency plans prepared should an adverse ruling occur regarding tariffs at the Supreme Court level.
Experts emphasize how crucial this decision is for Bitcoin's price trajectory since an unfavorable outcome could either relieve corporate cost pressures—potentially encouraging risk-taking—or provoke sharp market corrections depending on how customs duties are handled legally going forward.
A declaration invalidating customs tariffs might reduce expenses for businesses and foster increased appetite for risk assets like Bitcoin; conversely unexpected rulings could lead to steep BTC price drops.
This content does not constitute investment advice.