The U.S. Supreme Court is set to rule on whether presidents can unilaterally impose tariffs without congressional approval—a decision that could fundamentally reshape executive power over trade policy.

The core question: Does a sitting president need Congress authorization to levy tariffs on countries and specific commodities? This case directly stems from the tariff actions previously implemented on Chinese goods, steel, and aluminum imports.

Why this matters for markets: Tariff wars create ripple effects across global markets. They influence currency movements, alter inflation expectations, and shift capital flows between risk-on and risk-off assets. Crypto traders and macro investors pay close attention to such policy shifts, as trade protectionism historically increases volatility and can trigger safe-haven demand for digital assets.

The debate around "tariffs making us stronger" reflects a broader protectionist stance that's reshaping global trade dynamics. Market participants should watch this ruling closely—outcomes could impact FX pairs, commodities, and broader portfolio allocation strategies heading into the next cycle.