On November 4th, the American business community, members of Congress, and former government officials launched an unprecedented legal offensive against the Trump administration, demanding that the Supreme Court limit the scope of the president's "emergency tariff powers." Groups including the U.S. Chamber of Commerce and several former national security officials have submitted nearly 40 legal opinions opposing Trump's expansion of power under the guise of a trade war. Supporters are few and far between, creating a highly charged political and legal standoff.
Trump described the case as "one of the most important cases in American history," emphasizing that depriving the president of the ability to swiftly impose tariffs would "endanger national security." However, the U.S. Chamber of Commerce countered, pointing out that trade barriers have already severely damaged business investment and consumer confidence, and warning that policy uncertainty is slowing overall growth. Legal experts believe this case will be a milestone in defining the boundaries between executive and legislative powers, and will also affect the trajectory of over $50 billion in potential tariff revenue.
Bitunix analyst view: If trade war powers are restricted, it will reshape the US foreign trade landscape and global risk asset pricing. The US dollar may face short-term pressure, and the tendency for funds to seek safe havens will intensify. For the crypto market, if policies shift to a more moderate stance and the liquidity environment improves, BTC's medium-term structure is expected to benefit, but increased volatility will remain the main theme. The current market focus is shifting from interest rates to policy legitimacy, and the outcome of the bill may be a key turning point in the macroeconomic landscape in the fourth quarter.
