President Trump would invoke other tariff authorities if his appeal of a trade court's ruling isn't successful, Commerce Secretary Lutnick said.

President Donald Trump warns of economic ruination if courts rule against his tariffs after the U.S. Court of International Trade blocks emergency import taxes.

The president's plan - where countries face between 11% to more than 100% tariffs on goods brought into the US - was announced in April. But the majority of the tariffs were paused by Trump for 90 days in the wake of stock market volatility.

Homebuilder stocks rallied on Thursday, in a sign that residential construction will benefit from the ruling striking down Trump's tariffs.

President Trump’s top economic advisers stressed on Sunday that they would not be deterred by a recent court decision declaring many of the administration’s tariffs to be illegal, pointing to other authorities the White House could invoke to pressure China and other nations into trade negotiations.

Asia's factory activity shrank in May as soft demand in China and the impact of U.S. tariffs took a heavy toll on companies, private surveys showed on Monday, highlighting the darkening outlook for the once fast-growing region.

Since the April 2 announcement, the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average have each experienced double-digit declines – only to rebound sharply over the last few weeks as some updated trade deals have come into view. Even though the market has been roaring as of late, I don't think investors are out of the woods quite yet.

Japanese businesses increased capital investment at a faster pace in the first quarter of this year just as the Trump administration touted the coming tariff campaign that kicked off in March.