Most of Trump's tariffs are not legal, court rules: what to know

A federal appellate court on Friday upheld a lower-court ruling that invalidated most of President Trump's global tariffs,

The big picture: The ruling could complicate Trump's efforts to change the global trade order, cutting off a major source of cash for the government and leaving businesses struggling for answers.

Driving the news: The appellate court upheld a late-May ruling which said Trump did not have the authority under the International Emergency Economic Powers Act (IEEPA) to impose tariffs.

The other side: Trump said the ruling would "literally destroy the United States of America" on Truth Social Friday night, also promising an appeal to the Supreme Court. • "ALL TARIFFS ARE STILL IN EFFECT!" he wrote.

Here's what to know:

What the court ruled

State of play: In a 7-4 ru