President Trump’s “Liberation Day” tariffs have been struck down by the US Court of International Trade, which ruled the sweeping trade measures illegal and outside the president’s authority. The Trump administration immediately filed a notice that it was appealing the ruling.
Recent trade negotiations by the US have not only roiled global equity markets but have also had a significant impact on Bitcoin as well.
Though Bitcoin remained mostly unchanged, Asian stock markets climbed on Thursday morning, with Japan’s Nikkei 225 gaining roughly 1.67% and Australia’s ASX 200 posting modest gains. India’s Nifty and Sensex also opened in green. Meanwhile, U.S. stock futures surged following a favorable court decision.
Global financial markets have experienced sharp fluctuations since Trump unveiled extensive tariffs on April 2, with some measures later eased or reversed amid ongoing negotiations between the White House and foreign governments.