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flag Federal appeals court hears challenge to Trump's global tariff.

flag A federal appeals court heard arguments Friday challenging President Trump’s 10% global tariff, imposed under a 1974 law meant to address balance-of-payments deficits rather than trade deficits. flag The challenge, brought by 24 states and businesses, argues the administration misapplied the law. flag Judges expressed skepticism toward the states’ claims while showing more openness to the private businesses’ arguments. flag The tariffs are set to expire in July, and according to the Yale Budget Lab, their continuation could cost each household between $760 and $1,500.

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