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The US Supreme Court invalidated the tariff system introduced by Trump under IEEPA. In response, Trump announced the introduction of a uniform, global tariff rate of 15%, raising it from the previously signaled 10%.
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Uncertainty surrounding potential tariff refunds increases legal and policy ambiguity. Markets once again face unpredictability in trade policy. US index futures are losing up to 1.00% in the early part of the day.
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The US dollar is one of the weakest currencies, down between 0.3–0.4%. EURUSD is gaining 0.31%.
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China’s Ministry of Commerce is conducting a full assessment of the Supreme Court ruling. Beijing urged the US to lift unilateral tariffs, arguing they violate trade rules and US law. Authorities signaled readiness to defend national interests if further pressure continues. The comments come ahead of a key Trump–Xi meeting window.
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Gold is gaining 1.12% to USD 5,130, the highest level in three weeks. Oil prices are down around 1.00% amid demand concerns stemming from tariff tensions. Investors are also analyzing the possibility of resuming US–Iran talks.
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Bitcoin fell by as much as around 5%, dropping below USD 65,000 after breaking key technical support. Currently, prices have stabilized around USD 65,500.
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Goldman Sachs raised its Brent/WTI price forecasts for Q4 2026 to USD 60/56, citing lower inventories in OECD countries. Despite the upgrade, the bank still expects a supply surplus in 2026 unless significant disruptions occur.
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Forecasts assume more stable prices in 2027 amid moderate demand and slower supply growth. A potential easing of sanctions on Iran or Russia poses downside risk.
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Iran reportedly signed a €500 million agreement with Russia for the delivery of 500 Verba MANPADS air defense systems and 2,500 missiles. Deliveries are planned for 2027–2029.
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According to the “New York Times,” Trump is considering limited airstrikes on IRGC targets, nuclear facilities, and missile systems. Broader escalation remains possible if limited actions fail to deliver results.
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US and Iranian negotiators are set to meet in Geneva. Officials describe the talks as potentially the last diplomatic opportunity before military action.
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