Appeals court reinstates Trump tariffs

A federal appeals court has blocked a lower court order striking down President Donald Trump's "reciprocal" tariffs at the request of the White House, CNBC reported.

The move follows a decision from a panel of the U.S. Court of International Trade this week that struck down most of the president's "Liberation Day" tariffs.

At issue was the administration's use of the 1977 International Emergency Economic Powers Act (IEEPA) in claiming the authority to impose the tariffs. The panel found that Trump's tariffs had exceeded his authority under the IEEPA.

The appeals court order stays the lower court decision while the Appeals Court for the Federal Circuits considers the matter.