Trump's 10% tariffs suffered a legal setback, but the ruling is not universally applicable.

CoinFeed reported on May 8th, citing CNN, that a federal court ruled on Thursday that US President Trump's 10% tariffs were illegal, jeopardizing the policy. A panel of judges at the US Court of International Trade ruled 2-1 that the government lacked grounds to impose tariffs under Section 122 of the Trade Act of 1974. The report stated that Thursday's ruling requires the government to halt the imposition of these tariffs on the plaintiffs (a group of small businesses and several Democratic-governed states) and to refund previously paid amounts. The tariffs against all importers other than the plaintiffs will remain in effect until July. It was also reported that the court has currently only blocked the two companies that filed the lawsuit and the state of Washington from imposing the tariffs.