In a surprising move, U.S. President Donald Trump has announced an increase in the global tariff rate from 10% to 15%, effective immediately. Despite this development, the cryptocurrency market has shown resilience, with major digital currencies remaining stable. This decision comes as Trump navigates alternative legal frameworks to enforce tariffs following the Supreme Court’s rejection of his previous authority under the International Emergency Economic Powers Act (IEEPA).
On Truth Social, Trump stated, “As President of the United States, I am raising the global tariff to 15% on countries that have taken advantage of the U.S. for decades.” This announcement follows an initial declaration on Friday of a 10% tariff, designed to supplement existing tariffs that survived the court's decision, under provisions from the Trade Expansion Act of 1962 and the Trade Act of 1974.
However, Adam Cochran, a pro-crypto lawyer, highlighted the limitations of these legal avenues, noting that they restrict such tariffs to countries with which the U.S. has a trade deficit, and they can only be applied for a maximum duration of 150 days at a capped percentage.
Historically, Trump’s tariff announcements have led to significant volatility in both crypto and stock markets, causing price drops and increasing uncertainty among investors. Yet, this time, the crypto sector has shown a notable resistance. Bitcoin’s price has remained steady around $68,000, and Ethereum has seen minimal fluctuation since the tariff news broke.
The broader crypto market, as indicated by the Total3 index (excluding BTC and ETH), experienced a slight dip of less than 1% on Saturday, maintaining a total market capitalization of approximately $713 billion. This stability suggests that the crypto community may be becoming more immune to short-term geopolitical maneuvers.
While some U.S. lawmakers continue to criticize Trump's tariff strategies, arguing they could harm the economy, the cryptocurrency market appears largely unaffected by the latest developments. This resilience could indicate a growing maturity and decoupling of digital assets from traditional market pressures.