The legitimacy of the US tariff policy has become a recent market focus. The Supreme Court is expected to make a ruling in January next year on the government's authority to impose "reciprocal tariffs" under the International Emergency Economic Powers Act (IEEPA). This decision will directly impact policy direction and influence the cryptocurrency market.

Trump's attitude towards this lawsuit has revealed several signals. He has frequently expressed dissatisfaction on social media, claiming that "evil forces are opposing us in the Supreme Court," and even publicly pressured the Chief Justice to "do the right thing for America." On November 6, he confided to reporters that a loss in the lawsuit would be "devastating," and hinted that the government is already planning alternative measures. This straightforward anxiety is generally interpreted by market participants as concern over the possibility of policy reversal.

Interestingly, high-level cabinet officials have taken a completely different stance. Treasury Secretary Yellen publicly stated on December 16 that overturning tariffs would "harm national security," and emphasized that the government "has multiple ways to increase fiscal revenue." However, this apparent calm contradicts her statements in court documents claiming that "overturning tariffs would trigger a fiscal disaster," creating a significant contrast. Market analysts collectively predict that the government is likely to lose in court, and subsequent remedial measures will inevitably be more complex and convoluted—definitely not as simple as officials suggest. For the crypto world, this means that policy uncertainty could further intensify.