U.S. equities also spiked on the news: Nasdaq jumped more than 200 points, the S&P 500 added 40, and the Dow Jones Industrial Average gained 330. By midday, however, most of those gains had evaporated as investors braced for Trump’s response.
The ruling specifically strikes down tariffs justified under emergency declarations regarding fentanyl and trade deficits, though sector-specific duties under different laws remain in place.
The Trump administration, meanwhile, is not expected to take the loss quietly. Reports suggest the White House anticipated the ruling and is already eyeing alternative legal pathways—such as Section 232 or Section 301—to reinstate the duties.
All eyes are now on Feb. 24, when Trump will deliver his State of the Union address. Traders expect him to use the platform to outline his “Plan B,” potentially reigniting the trade-war uncertainty that markets temporarily shook off.
FAQ How did bitcoin react to the Supreme Court ruling? Bitcoin rebounded to $67,800 after the U.S. Supreme Court struck down Trump’s reciprocal tariffs. Which altcoins saw gains following the decision? XRP and Solana led altcoin rallies, each posting 24‑hour gains above 2%. What was the impact on U.S. stock markets? The Nasdaq, S&P 500, and Dow all spiked initially but later erased most gains. Why does the ruling matter for global markets? It reduces trade‑war risks and inflation fears, creating a more favorable environment for risk‑on assets worldwide.
