LONDON (Reuters) -A U.S. trade court blocked most of President Donald Trump's tariffs in a sweeping ruling on Wednesday that found the president had overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. The Court of International Trade invalidated with immediate effect all of Trump's orders on tariffs since January that were rooted in the International Emergency Economic Powers Act (IEEPA), a law meant to address "unusual and extraordinary" threats during a national emergency. This could be one of the quickest options for Trump to implement.

Several lawsuits have argued that Trump exceeded his authority, left U.S. trade policy dependent on his whims and unleashed economic chaos.

President Donald Trump's global tariffs were declared illegal and blocked by a federal court on Wednesday in a massive blow to his administration.

A three-judge panel on Wednesday struck down President Donald Trump's unilateral tariffs, including 10% imposed on most U.S. trading partners, calling them "contrary to law."

LONDON (Reuters) -A U.S. trade court blocked most of President Donald Trump's tariffs in a sweeping ruling on Wednesday that found the president had overstepped his authority by…

(Reuters) -A U.S. trade court ruling that blocked most of President Donald Trump's tariffs and found he had overstepped his authority triggered some relief on financial markets on…

Global markets surged and U.S. stock futures skyrocketed upon news of the bombshell ruling that the vast majority of Donald Trump's tariffs are illegal.