The Trump administration asked the Supreme Court on Wednesday night to weigh in on its appeal to keep a broad set of tariffs in place after a lower court ruled they were illegal.

Why it matters: Global trade is in a new state of limbo over whether the bulk of President Trump's trade agenda might be overturned. • If the Supreme Court ultimately upholds the lower court ruling, the overwhelming majority of tariffs implemented under Trump would be canceled.

State of play: A federal appeals court on Aug. 29 held that Trump exceeded his authority by enacting widespread tariffs under the International Emergency Economic Powers Act (IEEPA). • The court, however, allowed the tariffs to remain in place through Oct. 14. • That decision does not apply to sector tariffs — including those on ste

See Full Page