Bitunix Analyst: Hardline Tariff Policy Extends, Global Trade Uncertainty Intensifies

On February 23, although the U.S. Supreme Court ruled last Friday that certain trade policy measures were unlawful, trade uncertainty has not subsided following the judicial decision. Instead, it has escalated amid a strong response from the executive branch. U.S. Trade Representative Greer stated clearly that tariff policies will continue regardless of the litigation outcome and emphasized that existing agreements remain binding. This suggests that even if the Supreme Court restricts certain emergency authorities, the administration will pursue alternative legal channels and trade investigations to maintain policy continuity.

President Trump subsequently announced an increase in global tariffs from 10% to 15%, further amplifying policy uncertainty. The European Union has demanded greater transparency from the U.S., reiterating that “an agreement is an agreement.” The European Central Bank also noted that what the global trade system currently lacks most is clarity. Meanwhile, the United Kingdom, whose previous 10% tariff advantage has now been neutralized, faces higher export costs and stands out as relatively pressured under the latest adjustment.

From a market behavior perspective, declining policy predictability is compressing cross-border capital risk tolerance. Capital is increasingly favoring short-duration liquidity instruments and defensive assets, while the willingness to absorb risk assets will depend on whether clearer institutional signals emerge.

In the crypto market, BTC’s recent decline has once again flushed long positioning, while the $70,000 psychological level remains a visible zone of short interest accumulation. If macro uncertainty persists, capital preference may continue shifting toward lower leverage, reinforcing range-bound structures. Conversely, once clearer policy guidance emerges, short-term liquidity replenishment could trigger a squeeze of overhead liquidity. At present, the key variable is not direction, but whether capital is willing to rebuild risk exposure.