On Wednesday, US Federal court decided to strike down Trump tariffs, right from the “Liberation Day’ last month, citing the overreach of power. The U.S. Court of International Trade further stated that under the economic emergency laws, President Trump lacks the authority to unilaterally impose global tariffs. This might help ease the ongoing trade tensions while allowing the Federal Reserve to boldly make decisions by eliminating uncertainties. Crypto market veteran Arthur Hayes believes that it’s time to ‘buy everything’. What’s Next As US Court Strikes Down Trump Tariffs? If the US court upholds its decision on “reciprocal tariffs”, it could have far-reaching implications, such as the refunding of all tariffs collected since April 2. This could amount to $10 billion worth of refunds as per the calculations of 2024 U.S. import levels. The decision covers the 10% baseline tariff applied to all nations, along with higher rates imposed on specific… Read More at Coingape.com
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