<h1>Decision finds president exceeded statutory emergency powers imposing sweeping tariffs; national-security and Section 232 measures unaffected</h1> A federal appeals court ruled that the president exceeded statutory emergency powers by imposing sweeping April tariffs on most trading partners and earlier levies on three neighboring countries, largely affirming a lower trade court but vacating the immediate nullification to allow an appeal to the Supreme Court. The decision does not affect tariffs imposed under national-security or prior trade-investigation authorities. If struck down, the government may have to refund collected duties, reducing Treasury revenue and weakening a bargaining tactic; alternative legal routes (Trade Act limits: 15% for 150 days; Section 232 requires investigations) provide narrower authority. The administration plans to appeal.