Court Blocks Trump’s Sweeping Global Tariffs

A federal court has blocked President Trump's sweeping global tariffs, ruling that he exceeded his authority by imposing them under emergency powers. This decision undermines a central element of Trump's trade strategy and introduces renewed uncertainty into global markets, including the cryptocurrency sector. The administration is appealing the ruling, aiming to preserve leverage in ongoing trade negotiations, which White House officials say are still on track. The court's move has amplified Wall Street criticism, with the 'TACO trade' meme highlighting perceived inconsistency in Trump's tariff policies. Trump maintains that his shifting approach is a deliberate negotiation tactic rather than retreat. Analysts caution that a prolonged legal battle could extend market instability.