Trump Tariffs Reinstated On Appeal, Triggering Highest Bitcoin Outflows Since March
Donald Trump’s tariffs have been reinstated by an appeals court, halting an earlier ruling that had declared them unlawful. The ruling rattled crypto investors, triggering $346.8 million in net outflows from US spot Bitcoin ETFs (exchange-traded funds) on May 29, the worst daily performance since March. The tariffs, which impose a general 10% duty on most imports and higher rates on certain countries, had been struck down by the US Court of International Trade on May 28. The appeals court has now allowed the tariffs to stay in place while the legal process continues. “The political branches, not courts, make foreign policy and chart economic policy,” the Trump administration said in its filing to the appeals court. President Trump is rebalancing our trade agreements with the entire world, bringing in billions of dollars in tariff revenues, and finally ending our country from being ripped off. But America cannot function if President Trump has his sensitive diplom...