Trump unveils 10% global tariff after US Supreme Court limits emergency powers

💡 DMK Insight

The Supreme Court’s ruling against Trump’s use of national emergency powers for tariffs is a game changer for traders. This decision not only limits executive power but also signals a more stable trade environment, which could impact forex and commodity markets significantly. Traders should be on the lookout for how this affects the U.S. dollar, especially against currencies like the euro and yen. If tariffs are off the table, we might see increased volatility in commodities like steel and aluminum, which have been heavily influenced by trade policies. The ruling could also lead to a reassessment of risk in emerging markets that rely on U.S. trade relations. Here’s the kicker: while this ruling seems to promote stability, it could also embolden Congress to take a more active role in trade policy, leading to potential shifts in market sentiment. Keep an eye on the dollar index and commodity prices over the next few weeks to gauge the market’s reaction.