Trump's tariff policy is once again escalating, putting downward pressure on the crypto market

Trump recently stated on Truth Social that he will further raise global tariffs. This new move triggered an immediate market response, with mainstream cryptocurrencies like Bitcoin experiencing price corrections. According to the latest data, Bitcoin is currently trading at $67,240, down 1.48% in the past 24 hours; Ethereum has fallen 0.97%, priced at $1,970.

Trump Bypasses Legal Restrictions, Raises Tariffs from 10% to 15%

After the U.S. Supreme Court ruled that Trump could not exercise previous tariff powers under the International Emergency Economic Powers Act (IEEPA), the former president did not stop. According to the latest policy announcement, Trump will increase global tariffs from the previously declared 10% to 15%. In his statement, he called the court’s decision “anti-American” and said the new tariff standards would be officially determined and announced by his administration “in the coming months.”

This policy shift reflects the Trump administration’s adjustment in response to judicial review—re-implementing trade restrictions through other legal channels after the original authority was limited by the courts.

Crypto Markets React Quickly to Policy Changes

Bitcoin’s price showed significant volatility following the announcement of Trump’s tariff policy. Initially, BTC rose about 0.5%, then turned downward, approaching a 1% decline. This “rise then fall” pattern indicates the market’s complex attitude toward the policy—on one hand, concerns about policy uncertainty; on the other, weighing the potential impact of tariffs on the U.S. economy.

Ethereum’s performance largely mirrored Bitcoin, with a decline of 0.45% during the same period. This correlated downward movement in crypto assets suggests that investors are concerned about the broader pressure on risk assets from U.S. trade policy adjustments.

Market Implications Behind Policy Escalation

Raising tariffs from 10% to 15% means higher costs for imported goods into the U.S. This could impact economic growth expectations both domestically and globally, thereby affecting valuations of risk assets. Cryptocurrencies, as risk assets, often face selling pressure in environments of macroeconomic policy uncertainty.

Notably, emerging markets are increasingly dependent on cryptocurrencies. Latin America’s crypto trading volume is expected to grow 60% by 2025, reaching $730 billion. Stablecoins are playing an increasingly important role in cross-border remittances and international payment settlements. Changes in tariff policies could trigger chain reactions in cross-border trade costs in these markets, influencing regional demand for crypto payment tools.

Outlook for Trump’s Policy

Although the Supreme Court imposed constraints on Trump’s trade actions, his administration’s efforts to push tariffs through new legal means demonstrate a firm stance on trade protectionism. This also suggests potential future policy setbacks, adding uncertainty for crypto assets that rely on market stability.

Market participants should closely monitor the upcoming tariff lists announced by the Trump administration over the next few months and assess the actual impact of these measures on global trade and economic growth.