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Trump's global tariff imposition ruled illegal, and he enacts a new tariff policy—what's the impact?

On February 21, 2026, the U.S. Supreme Court announced its ruling, deeming the large-scale tariff policy implemented by the Trump administration under the International Emergency Economic Powers Act (IEEPA) illegal. While everyone is still discussing when the $176 billion in illegally collected taxes will be refunded, Trump quickly signed a new executive order, adding an additional 10% tariff on globally imported goods into the U.S. on top of the current regular tariffs, for a period of 150 days, replacing some emergency tariffs previously deemed illegal by the Supreme Court. So, what does this mean for the crypto world?

👉 First, we need to clarify the strength of this new tariff policy. The background for this tariff policy is the U.S. Supreme Court ruling that the previous tariffs by Trump were illegal. In response, Trump signed a new tariff policy as a "stopgap" measure, serving as a temporary replacement for the old tariffs. The old tariffs will be partially terminated. (The White House stated in an executive order: "In light of recent events, the additional ad valorem tariffs imposed under the previous executive order pursuant to the International Emergency Economic Powers Act will no longer be in effect and will be discontinued as soon as practicable.") From this perspective, there is a hedging effect of both positive and negative factors.

In terms of strength, the new tariff policy is a "blind strike," imposing a 10% tariff on all imported goods into the U.S. from all countries. The rate isn't very high, so overall, the negative impact of this new tariff policy is limited.

👉 Next, let's look at the impact on the crypto market. As is well known, on one hand, tariff policies can lead to trade friction, creating uncertainty for global economic growth; on the other hand, tariffs push up the prices of imported goods, increasing inflationary pressures that force the Federal Reserve to maintain high interest rates, leading to a strengthening dollar. Both factors ultimately suppress risk assets worldwide, and Bitcoin is no exception. Considering the damage caused by the previous two trade wars to the crypto market, this new tariff policy will likely cause the market to remain "haunted," so short-term corrections in Bitcoin and Ethereum are inevitable. However, given that the negative impact isn't significant, the decline probably won't be too large, and the sideways trading pattern is unlikely to be broken in the short term.