A federal court on Wednesday ruled President Trump does not have the authority under economic emergency legislation to impose sweeping global tariffs. Why it matters: The U.S. Court of International Trade's ruling could bring the administration's trade war to a screeching halt. • By blocking entirely most categories of tariffs, the court effectively wiped out most of the regime Trump put in place since taking office. Driving the news: The court, ruling in two separate cases, issued a summary judgment throwing out all the tariffs Trump imposed under the International Emergency Economic Powers Act, or IEEPA. • Trump ... (full story)