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flag Federal appeals court strikes down Trump's emergency tariffs, potentially affecting billions in trade.

flag A federal appeals court ruled that President Trump overstepped his authority by declaring national emergencies to justify sweeping import tariffs. flag The decision largely upheld a previous ruling and allows Trump's administration to appeal to the Supreme Court. flag This setback for Trump's trade policies, which have caused market instability and raised fears of higher prices, specifically targets tariffs imposed on nearly all U.S. trading partners and earlier levies on China, Mexico, and Canada. flag The ruling does not affect tariffs on foreign steel, aluminum, and autos. flag If upheld, the government may have to refund some collected tariffs.

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