The Supreme Court's ruling does not affect all of President Trump's tariffs, but only rejects the tariffs applied under the International Emergency Economic Powers Act of 1977. The court did not state that the president cannot impose tariffs, but only affirmed that this act cannot be used as a legal basis. This distinction is very important, but many people are still unclear about exactly which tariffs are still in effect, which have been revoked, and whether the revoked ones can be reinstated by other laws or not.

At a press conference, President Trump stated that the Supreme Court told him he could not impose certain tariffs in the same way as before, but could still implement sanctions, restrictions, or even completely block imports from countries if he wanted to. He believes that the use of tariffs has already been a moderate policy and may need to consider stronger measures in the near future. Previously, he also called this ruling "shameful" and indicated that he has a backup plan.

President Trump stated that he plans to sign new executive orders to impose a "10% broad-based tax" in response to the Supreme Court's ruling. He mentioned that the Court took 2 months to issue the ruling but did not address whether the collected tariff money would need to be refunded. He asserted that he would not do anything, and anyone who wants a refund should ask the Supreme Court themselves.

While those opposing tariffs are celebrating, many senators and congressional representatives continue to support President Trump's policies. House Speaker Mike Johnson praised the tax policy and stated that Congress and the administration will "determine the best course of action in the coming weeks" to respond to the ruling. Senator Bernie Moreno called on the Republican Party to use budget reconciliation procedures to pass the tariff restoration law with a simple majority, similar to how they passed President Trump's "big and beautiful bill."

The Business Roundtable, representing many leading CEOs, believes that the Trump administration should adjust its approach to tariffs, focusing on targeted measures to address unfair trade practices and national security issues, rather than applying them broadly. In fact, tariffs negatively affect many businesses but also help protect certain sectors, which is why they still receive support from a segment of the business community.

Goldman Sachs noted that this ruling will not completely end tariffs and believes that President Trump's administration will utilize alternative legal frameworks. This signals a coming period of significant volatility. The market initially reacted positively.$BTC