U.S. appeals court judges sharply questioned on Thursday whether President Donald Trump's tariffs were justified by the president's emergency powers, after a lower court said he exceeded his authority with sweeping levies on imported goods.

Companies, consumers and foreign countries have been paying close attention to President Donald Trump’s aggressive policy of placing tariffs on foreign goods. Soon, the courts will weigh in on whether Trump has the power to levy those tariffs in the first place — a high-stakes legal battle that will either affirm a key pillar of Trump’s economic policy or cut it off at the knees.

The Trump administration asked the U.S. Court of Appeals for the Federal Circuit to review a trade court's decision invalidating President Trump's 10% tariffs.

The U.S.-Chinese cease-fire left exporters with crippling tariffs, worsening a slowdown for light-industry factories caused by China’s shift to advanced manufacturing.

U.S. and Chinese officials agreed to seek an extension of their 90-day tariff truce on Tuesday, following two days of what both sides described as constructive talks in Stockholm aimed at defusing an escalating trade war between the world's two biggest economies that threatens global growth.