Trump Imposes 15% Global Tariff After Court Strikes Down Emergency Duties, Crypto Plunges
The Supreme Court struck down President Trump’s emergency tariffs ruling that limits executive trade powers, prompting him to impose a new 15% global tariff. Bitcoin slid 4.23% to $65,092.73 and Ethereum fell 5.41% to $1,865, challenging BitMine Immersion Technologies’ near-term rebound prospects.
1. Supreme Court Strikes Down Emergency Tariffs
The Supreme Court ruled that President Trump exceeded congressional trade authority when imposing emergency tariffs, nullifying the measures. In response, the administration announced a fresh 15% global tariff on imports to restore trade leverage.
2. Crypto Tokens Tumble and BMNR Outlook
Following the tariff shifts, Bitcoin fell 4.23% to $65,092.73 and Ethereum dropped 5.41% to $1,865, reflecting broad risk-off sentiment. BitMine Immersion Technologies, chaired by crypto strategist Tom Lee, faces pressure on its mining margins and stock performance as token prices wobble and tariff impacts on equipment costs emerge.