Cointime

Cointime

Download App
iOS & Android

Bitcoin price slips after Trump hikes worldwide tariff to 15% from 10% despite Supreme Court decision

What to know:

  • The price of bitcoin is seeing a slight decline after the announcement of increased global tariffs.
  • U.S. President Donald Trump announced a 15% worldwide tariff on imported goods.
  • That new 15% tariff represents an escalation from the previously announced 10%, despite the Supreme Court's previous decision.

The price of bitcoin BTC$67,928.53 fell slightly on Saturday after U.S. President Donald Trump announced an additional increase to global tariffs, despite a U.S. Supreme Court decision that invalidated earlier trade actions under the International Emergency Economic Powers Act (IEEPA).

In a post on Truth Social, Trump called the court’s decision “anti-American” and declared that, effective immediately, he was raising the previously announced worldwide tariff to 15%.

“During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs,” the president added.

The price of bitcoin reacted quickly to the post, seeing an initial uptick of around 0.5% before losing nearly 1% of its value, reacting to the development. BTC is now trading at $68,000. Ether is down 0.45% since the announcement to $1,980.

(CoinDesk)

The tariff hike comes just after the U.S. Supreme Court decided that Trump didn't have the power to impose tariffs as he did earlier in the year. Reacting to that decision, Trump announced he was ordering a neew 10% global tariff, which is now being hiked to 15%.

Comments

All Comments

Recommended for you

  • BTC Falls Below $61,000

    Market data shows that BTC has fallen below $61,000, currently priced at $60,996, with a 24-hour decline of 1.15%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $61,000

    Market data shows that BTC has surpassed $61,000, currently priced at $61,005.65, with a 24-hour decline of 3.74%. The market is experiencing significant volatility, so please ensure proper risk management.

  • USDT Surpasses ETH to Become the Second Largest Cryptocurrency by Market Cap

    On June 6, market data showed that USDT's market capitalization surpassed that of ETH, making it the second largest cryptocurrency by market cap. As of now, USDT's market cap stands at $187.034 billion, while ETH's market cap is $184.423 billion.

  • BTC Falls Below $60,000

    Market data shows that BTC has fallen below $60,000, currently priced at $59,995.63, with a 24-hour decline of 4.36%. The market is experiencing significant volatility, so please ensure proper risk management.

  • US Spot Ethereum ETF Sees $6 Million Net Outflow

    On June 6, according to monitoring data from Farside Investors, the US spot Ethereum ETF experienced a net outflow of $6 million yesterday.

  • US Spot Bitcoin ETF Sees $325.7 Million Net Outflow

    On June 6, according to data monitored by Farside Investors, the US spot Bitcoin ETF experienced a net outflow of $325.7 million yesterday.

  • BTC Briefly Drops Below $60,000

    Market data shows that BTC briefly dropped below $60,000, currently recovering to $61,290.9, with a 24-hour decline of 3.5%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Yili Hua: US Stocks Correct as Expected, Decline Faster Than Anticipated

    On June 5, Liquid Capital (formerly LD Capital) founder Yili Hua stated, "As we anticipated, US stocks have begun to correct, and expectations for interest rate cuts have changed. Trading is always the most challenging task; getting it right ten times and wrong once can lead to problems. It is essential to remain cautious and manage risks. The speed of this decline following the rebound has far exceeded expectations. However, it also comes with greater opportunities; historically, bear markets have been the time to make money, while bull markets often lead to losses."

  • Fed's Harker: Maintaining Stable Rates is Reasonable for Now

    On June 5, Fed's Harker stated that it may soon be time to adjust interest rates. Given the uncertainty, maintaining stable rates is reasonable at this time.

  • President Trump: Recent Employment Report is Strong, Stock Market Should Rise, Not Fall

    On June 5, U.S. President Trump stated that the recently released employment report is very strong, and the stock market should rise, not fall. This has been the case for the past 200 years. Economic growth does not mean inflation!

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company