A U.S. federal appeals court on Friday, August 29, ruled that most of the global duties imposed by President Donald Trump were illegal because he exceeded his authority in imposing them, Bloomberg reports . Nevertheless, the justices allowed those duties to remain in effect while the case is heard again by a lower court.

The appeals court upheld an earlier ruling by the Court of International Trade that Trump had improperly invoked the Emergency Powers Act to impose duties. However, uncertainty remains given further proceedings. The next step is expected to be to take the case to the U.S. Supreme Court, Bloomberg suggests.

The White House was not immediately available to comment to the agency on Friday's decision.

Futures on the leading U.S. indices fell, CNBC shows . Futures on the S&P 500 went down by 0.7%, contracts on the technological Nasdaq Composite collapsed by 1.3%.

The news is supplemented.

This article was AI-translated and verified by a human editor

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