President Donald Trump’s trade deals are illegal, Piper Sandler flatly declares in a new research note. The investment bank analyzed ongoing court battles and legislative authority, and concluded that Trump’s reliance on the International Emergency Economic Powers Act (IEEPA) to impose wide-ranging tariffs and cut bilateral deals far exceeds the powers granted by Congress.

President Donald Trump is hailing a favorable decision by a federal appeals court over his sweeping tariff policy as a “great” win for the United States.

TARIFF DEAL: President Donald Trump said on Truth Social that his administration had reached a deal with Japan, one of the largest U.S. trading partners, to lower its tariff rate to 15% as part of a sweeping trade agreement.

Two projections show that the Trump administration's tariff revenues would not cover the next 10 years of projected deficits

A group of small businesses that won an order finding President Donald Trump’s sweeping global tariffs illegal urged a federal appeals court to uphold that decision and block the trade levies.

In a scathing rebuke that’s sending shockwaves through financial markets, 27 prominent economists have filed an amicus brief dismantling the economic foundation of President Donald Trump’s emergency tariff powers.