BlockBeats News, November 4th: The U.S. business community, Congress members, and former government officials are joining forces in an unprecedented legal offensive against the Trump administration, urging the Supreme Court to restrict the President’s use of “emergency tariff powers.” Groups including the U.S. Chamber of Commerce and several former national security officials have submitted nearly 40 legal briefs opposing Trump’s expansion of power under the guise of a trade war. Supporters are few, and the political and legal standoff is intense.
Trump has described the case as “one of the most important cases in American history,” emphasizing that stripping the President of the ability to swiftly impose tariffs would “endanger national security.” However, the U.S. Chamber of Commerce has countered, stating that trade barriers have already severely impacted business investment and consumer confidence, warning that policy uncertainty is slowing overall growth. Legal experts believe this case will become a milestone in defining the boundaries between executive and legislative powers and will also impact the direction of over $500 billion in potential tariff revenue.
Bitunix Analyst Insights: If the power of the trade war is restricted, it will reshape the U.S. trade landscape and global risk asset pricing. The U.S. dollar may come under short-term pressure, with a rising tendency towards safe-haven assets. For the crypto market, if there is a shift towards policy easing and an improvement in the liquidity environment, BTC’s mid-term structure is expected to benefit, although heightened volatility will remain the theme. The current market focus is shifting from interest rates to policy legitimacy, and the outcome of the legal ruling could become a key turning point in the macroeconomic landscape of the fourth quarter.
