Bitcoin Near $100K as U.S. Supreme Court Debates Trump Tariffs Under IEEPA, Markets Brace for Trade Policy Uncertainty

On November 6, the U.S. Supreme Court debated President Trump’s tariff actions under the International Emergency Economic Powers Act (IEEPA). Conservative justices pressed the government’s rationale, signaling a potential curtailment of presidential trade authority. The White House and Treasury maintain optimism, expecting the court to rule in their favor, while the business community braces for uncertainty that could extend for months.

Regardless of the ruling, analysts warn Trump could invoke alternative statutes to sustain tariff pressure, implying trade tensions may persist. A decision overturning tariffs would lower the effective rate to 6.5% and reduce GDP drag to about 0.6%, though refunds could worsen deficits. The Atlantic Council and New American Security Center warn this could realign U.S.-Europe and Asia-Pacific dynamics and reshape the market for risk assets. In markets, judicial risk drives macro liquidity shifts, with Bitcoin trading near $100,000 to $105,000 resistance.