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What Next After Supreme Court Strikes Down Trump Tariffs?

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What Next After Supreme Court Strikes Down Trump Tariffs?

Washington erupted in political crossfire Friday after the Supreme Court of the United States struck down President Donald Trump’s sweeping global tariffs.

The ruling triggered sharp partisan reactions and exposed a widening divide over trade, executive power, and the country’s economic future.

Partisan Firestorm Erupts as Lawmakers Clash Over Trade, Power, and $150 Billion in Tariffs

In a 6–3 decision, the Court ruled that Trump exceeded his authority under the International Emergency Economic Powers Act (IEEPA) when he imposed broad “reciprocal” tariffs in 2025 without clear authorization from Congress.

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The ruling invalidates most of those global duties, marking a major setback for a signature pillar of Trump’s second-term economic agenda.

Just like how stock and crypto markets reacted, the political reaction was immediate — and explosive.

Democrats Declare Victory

Senate Democratic Leader Chuck Schumer framed the ruling as a consumer win.

“This is a win for the wallets of every American consumer. Trump’s chaotic and illegal tariff tax made life more expensive and our economy more unstable.”

He added:

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“Trump’s illegal tariff tax just collapsed — He tried to govern by decree and stuck families with the bill. Enough chaos. End the trade war.”

Similarly, Senator Elizabeth Warren emphasized the financial toll on households and small businesses.

“No Supreme Court decision can undo the massive damage that Trump’s chaotic tariffs have caused. The American people paid for these tariffs, and the American people should get their money back,” she stated.

In a broader statement, Warren argued that any refunds stemming from the ruling “should end up in the pockets of the millions of Americans and small businesses that were illegally cheated out of their hard-earned money.”

House Budget Committee Ranking Member Brendan Boyle echoed the sentiment:

“This ruling is a victory for every American family paying higher prices because of Trump’s tariff taxes. The Supreme Court rejected Trump’s attempt to impose what amounted to a national sales tax on hardworking Americans.”

Republicans Split Over Executive Power

Republican reaction, however, revealed a party divided between constitutional purists and economic nationalists.

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Senator Rand Paul praised the decision as a safeguard against executive overreach.

“In defense of our Republic, the Supreme Court struck down using emergency powers to enact taxes. This ruling will also prevent a future President such as AOC from using emergency powers to enact socialism,” he said.

But Senator Bernie Moreno sharply condemned the Court’s move:

“SCOTUS’s outrageous ruling handcuffs our fight against unfair trade that has devastated American workers for decades. These tariffs protected jobs, revived manufacturing, and forced cheaters like China to pay up,” he noted.

Moreno warned that “globalists win” under the ruling and called for Republicans to codify the tariffs through reconciliation legislation.

Trump Fires Back

Trump himself reportedly responded with a single word during a White House breakfast with governors:

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“Disgrace.”

The US President also signaled that his administration has a “backup plan,” hinting at possible efforts to reimpose tariffs through alternative legal authorities such as Section 301 or Section 232.

A Constitutional and Economic Flashpoint

Beyond the immediate political theater, the decision represents a rare rebuke of executive trade authority from a conservative-majority Court.

The ruling reinforces Congress’s constitutional control over taxation and trade regulation, limiting the scope of emergency economic powers under IEEPA.

At the same time, it raises practical questions about potentially billions in tariff refunds and whether lawmakers will attempt to restore elements of Trump’s trade policy through new legislation.

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What began as a legal battle over tariffs has evolved into a broader confrontation over presidential power, economic nationalism, and who ultimately controls America’s trade agenda.

“The Supreme Court got it right. But they also did Trump a huge favor, as his tariffs are harming the U.S. economy and are paid by Americans. But since the tariff revenue will now stop and past revenue must be returned, the already rising U.S. budget deficit will soar. Got gold?” Peter Schiff quipped.

The fight is far from over.

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Crypto World

Bitcoin Whales Rebuild Reserves With 236K BTC in 90-days

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Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Binance, Price Analysis, Market Analysis, Liquidity, Whale

Large Bitcoin (BTC) holders have steadily increased their holdings in recent months, with the total balance climbing back to levels last seen before the October 10, 2025, market crash.

At the same time, crypto exchange data shows whale-related outflows averaging 3.5% of exchange-held BTC over a 30-day rolling period, the highest since late 2024.

BTC whale reserves return to pre-October peak

Bitcoin wallets or “whales”, holding between 1,000 and 10,000 BTC, have rebuilt reserves over the past three months. The cohorts increased their total balance to 3.09 million, from 2.86 million BTC on Dec. 10, 2025, a 230,000 BTC addition that restores their balance to pre-October 2025 levels.

Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Binance, Price Analysis, Market Analysis, Liquidity, Whale
Total BTC balance of large holders (1K-10K). Source: CryptoQuant

Crypto analyst ‘Caueconomy’ said the full drawdown in whale reserves has been reversed over the past 30 days with the accumulation of 98,000 BTC. The broader distribution phase began in August 2025 (after BTC hit $124,000), after which Bitcoin struggled to sustain a rally significantly higher.

BTC spot market data supports the recovery. Throughout 2026, the average BTC order size has ranged between 950 BTC and 1,100 BTC, the most consistent stretch of large-ticket activity since September 2024.

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Similar clusters appeared during the February–March 2025 correction. During that phase, retail orders accounted for the majority of activity, while large blocks appeared more intermittently and in smaller clusters.

Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Binance, Price Analysis, Market Analysis, Liquidity, Whale
Bitcoin spot average order size. Source: CryptoQuant

Related: ‘Resilient’ Bitcoin holders defend BTC, but bear floor sits 20% lower: Glassnode

BTC exchange flows spike to 14-month highs

CryptoQuant analyst Maartunn reported $8.24 billion in whale BTC exchange flows moved into Binance over the past 30 days, marking a 14-month high. Retail flows reached $11.91 billion and have flattened over the same period. The retail-to-whale ratio now sits at 1.45, and it continues to drop as the larger-size deposits increase.

Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Binance, Price Analysis, Market Analysis, Liquidity, Whale
Binance whale to exchange flows. Source: CryptoQuant

Parallel to these inflows, Glassnode data shows gross exchange whale withdrawals averaging 3.5% of total exchange-held BTC supply over a 30-day period, the strongest pace since November 2024.

Based on current exchange balances, that translates to roughly 60,000–100,000 BTC in withdrawals over the past month. 

While gross inflows into exchanges have also increased, the elevated withdrawal ratio suggests that much of that incoming BTC is being offset by strong outbound transfers, leaving net exchange balances relatively stable.

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Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Binance, Price Analysis, Market Analysis, Liquidity, Whale
BTC exchange whales outflow. Source: Glassnode

Related: Quantum fears aren’t behind Bitcoin’s 46% drop, says developer