After some delays, the US Supreme Court has finally made a decision on the controversial Trump-tariff issue, ruling them illegal and rejecting the President’s assertion of emergency powers to enforce trade duties.

As reported by Walter Bloomberg, the tariffs imposed on imports from Canada, China, Mexico, and the EU were expected to generate $1.5 trillion in revenue over the coming decade.

SUPREME COURT STRIKES DOWN TRUMP’S GLOBAL TARIFFS
The Supreme Court ruled Friday that President Trump’s global tariffs are illegal, rejecting his use of emergency powers to impose trade duties. • The tariffs, covering imports from Canada, China, Mexico, and nearly all… pic.twitter.com/Qu7EVbBCch
— *Walter Bloomberg (@DeItaone) February 20, 2026

Trump quickly decried the Supreme Court’s verdict, labeling it a “disgrace.” He also indicated that his administration had a contingency plan in place.

Further opinions from trade expert Lawrence Herman suggest that trade tensions won’t be resolved with this ruling, as he remarked that the tariffs would persist in some form and noted the already “shattered” US-Canada trade relationship.

In developments occurring closer to the time of this publication, Trump expressed displeasure with the US legal system, indicating he would take measures regarding the courts.

Bitcoin has faced a turbulent path influenced by Trump’s tariffs. The crypto asset plummeted last April upon the announcement of the first tariffs and has typically reacted unfavorably to Trump’s various trade threats.

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Following the Supreme Court’s ruling today, Bitcoin experienced volatility, dropping to around $66,500 but quickly rebounding beyond $68,000 in rapid succession. It has eventually stabilized below the $68,000 mark.