US President Donald Trump has increased the global tariff rate from 10% to 15% on imported goods, despite the Supreme Court's previous decision that invalidated earlier trade actions under the International Emergency Economic Powers Act (IEEPA).
In a statement, Trump referred to the court's decision as 'anti-American' and declared that he was raising the tariff rate effective immediately.
The price of bitcoin initially rose by 0.5% in response to the announcement but quickly dropped by nearly 1%, currently trading at $68,000. Ether also fell by 0.45% since the announcement to $1,980.