News

BlockBeats News, November 4 — American business circles, members of Congress, and former government officials are joining forces to launch an unprecedented legal offensive against the Trump administration, demanding that the Supreme Court limit the scope of the president's "emergency tariff authority." 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 powers under the guise of a trade war. There are very few supporters, and the confrontation between politics and law is highly charged. Trump described the case as "one of the most important cases in American history," emphasizing that stripping the president of the ability to quickly impose tariffs would "endanger national security." However, the U.S. Chamber of Commerce countered that trade barriers have already severely damaged 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 affect the direction of more than $5 billion in potential tariff revenue. Bitunix analyst's view: If trade war powers are restricted, it will reshape the U.S. foreign trade landscape and the pricing of global risk assets. The U.S. dollar may come under short-term pressure, and risk-averse sentiment may rise. For the crypto market, if policy shifts toward easing and the liquidity environment improves, BTC's medium-term structure is expected to benefit, but increased volatility will remain the main theme. The current market focus is shifting from interest rates to policy legitimacy, and the outcome of the bill's ruling may become a key turning point in the macro landscape for the fourth quarter.