A federal court held the very first hearing on President Donald Trump’s wide-ranging, so-called Liberation Day tariffs on Tuesday, offering the earliest window into whether those tariffs — and potentially all of the shifting tariffs Trump has imposed since he retook office — will be struck down. The case is V.O.S. Selections v. Trump.

Five American small businesses will ask a U.S. court on Tuesday to halt President Donald Trump's "Liberation Day" tariffs, arguing the president overstepped his authority by declaring a national emergency to impose across-the-board taxes on imports from nations that sell more to the U.

US inflation edged up 2.3% in April, slightly below expectations, sparking optimism in financial markets. Nasdaq and S&P 500 futures saw gains, fueled by hopes of Federal Reserve rate cuts. While this offers relief to households grappling with past price surges,

Markets cheer tariff reprieve, Republican budget proposal includes funding cuts to Medicaid, Tesla worth $1 trillion, more news to start your day.

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The S&P 500, which plummeted as much as 12% in the days following the "Liberation Day" tariff announcement, is now up over 3% since.

Commerce Secretary Howard Lutnick has tried to downplay economic concerns as the U.S. and China engage in trade talks.

President Donald Trump declared that a 10% tariff will serve as the minimum threshold for imports from countries seeking trade agreements with the United States. “Some will be much higher because they have massive trade surpluses and in many cases they didn’t treat us right,