A federal appeals court has ruled that most of President Donald Trump’s tariffs on imports to the United States are unlawful, throwing into doubt the signature economic policy of his second term.

The 7-4 ruling , which found that the president does not have the power to enact such sweeping tariffs on other nations, comes at a pivotal moment in trade talks sparked by the policy. Treasury Secretary Scott Bessent had aimed to wrap up negotiations with international trading partners by Labor Day, a target that will now be missed.

Trump’s so-called “ Liberation Day” announcement of the aggressive tariff plan sparked a volatile five months in global trade as America’s trading partners introduced reciprocal measures, and American consumers faced higher bills for imported products.

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