The US government, following a Supreme Court ruling, has raised the global tariff rate to 15% under a new legal framework. This adjustment to the Trump Tariff strategy caused a brief dip in Bitcoin’s price, with analysts noting potential market volatility and questions over $175 billion in prior tariff revenue.
The US has lifted the global tariff rate to 15%, marking a significant shift in trade policy. This move comes after a Supreme Court ruling found previous tariff actions illegal.
President Donald Trump confirmed the announcement on his Truth Social platform. The new rate took effect immediately under Section 122 of the Trade Expansion Act of 1962.
This 15% tariff is a temporary measure allowed for up to five months. It replaces previous tariffs that were struck down by the Supreme Court.
The cryptocurrency market reacted to the news, with Bitcoin’s price dipping to around $68,200. It later recovered slightly, trading near $68,510 according to data from CoinMarketCap.
Analysts have begun weighing the potential impact. VanEck’s Matthew Sigel suggested the ruling could affect liquidity, stating, “the cryptocurrency market may experience some volatility in the absence of tariff revenues.”
BitMine Chairman Tom Lee offered a different perspective in a CNBC interview. He noted the crypto market had remained stable despite the tariff news.
Uncertainty surrounds the fate of approximately $175 billion in tariff revenue collected under the previous framework. The Supreme Court’s ruling raises questions about whether these funds will be refunded.
The situation is expected to dominate policy discussions as the administration prepares more detailed guidelines. Further tariff measures are anticipated to be announced in the coming months.
