Trump's reciprocal tariffs are struck down by federal appeals court, putting trade deals and huge revenue windfall at risk

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• The U.S. Court of Appeals for the Federal Circuit ruled that most of President Donald Trump’s so-called reciprocal tariffs on global trading partners are illegal, upholding an earlier ruling by the Court of International Trade, which found that the tariffs’ legal basis under the International Emergency Economic Powers Act wasn’t valid.

President Donald Trump’s trade war suffered a severe blow late Friday, when a federal appeals court stuck down most of his so-called reciprocal tariffs against global trading partners.