The yen made its way back to the Takaichi market

Trump Warns of Major Consequences if Supreme Court Blocks Tariffs

Donald Trump reportedly exclaimed, "We’re screwed!" when discussing the potential outcome if the Supreme Court overturns his administration’s tariffs. Such a decision could force the United States to pay back hundreds of billions of dollars and halt planned foreign investments that were contingent on reduced import taxes.

The situation escalated earlier when the Justice Department notified Federal Reserve Chair Jerome Powell about the ongoing lawsuit. Both Powell and financial markets see this development as increasing pressure on the central bank. If the Fed were to cut interest rates due to presidential influence, it could trigger runaway inflation, a scenario with serious economic risks.