Stocks rally in Asia after trade court rules against Trump’s tariffs

The Trump administration is trying multiple ways to avoid having to wind down tariffs in a matter of days.

In addition to filing an appeal with the Court of Appeals for the Federal Circuit overnight, the administration has asked the U.S. Court of International Trade to pause its own decision while the appeals process is underway. 

“It is critical, for the country’s national security and the President’s conduct of ongoing, delicate diplomatic efforts, that the Court stay its judgment,” administration attorneys wrote. “The harm to the conduct of foreign affairs from the relief ordered by the Court could not be greater.”

Wall Street futures jumped overnight in the hours after a court blocked Trump’s April 2 tariffs. The court said in its judgment yesterday that the International Emergency Economic Powers Act did not give Trump “an unbounded tariff authority.”

Annie Andrews, a Democratic pediatrician who ran for Congress unsuccessfully in 2022, is launching a Senate bid in the hopes of toppling GOP Sen. Lindsey Graham, a mainstay of South Carolina’s GOP who has served in elected office in the state for more than 30 years.

Andrews played up her background in a launch video, and in a conversation with NBC News on Monday before her launch where she said Democrats “need to meet people where they are [and] talk like regular people to regular people, which is why we need regular people like me, a mom and a pediatrician, to run.”

Andrews was deeply critical of Graham’s record, and his growing fondness for Trump after spending much of his 2016 presidential campaign warning against Trump’s influence on the GOP. Asked if there was a risk to framing her campaign as directly opposed to the Trump administration in a state he’s won every time he’s been on the ballot there, Andrews told NBC that “Voters understand this isn’t just politics as usual.”

“What I’m focusing on is the way in which this administration’s policies are negatively impacting South Carolina,” she said. “It’s affecting the medical research institutions in our state, it’s directly impacting the economy.”

Democratic former Rep. Abigail Spanberger is launching her first TV ad of the 2025 Virginia governor’s race, detailing her background as she ramps up her campaign in one of the most closely watched elections of the year.

“Too many politicians talk when they should listen and divide instead of unite. Enough is enough,” Spanberger says in the 60-second spot, shared first with NBC News. She also highlights her experience in the CIA and her time in Congress, stressing her work with both parties.

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A federal three-judge panel ruled yesterday against several of Trump’s tariffs on international trading partners, saying he had exceeded his authority.

The Trump administration quickly moved to appeal in the U.S. Court of Appeals for the Federal Circuit.

In its judgment, the U.S. Court of International Trade panel said that Trump’s tariffs lacked “any identifiable limits,” and found that the decades-old International Emergency Economic Powers Act, a federal law that Trump cited in many of his executive orders, did not “delegate an unbounded tariff authority to the President.”

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Elon Musk’s days working at the White House are over.

Musk, the billionaire Tesla CEO whom Trump enlisted to cut waste in the federal government, started offboarding from his role yesterday, a White House official told NBC News, a day after he criticized a Republican bill to fund much of Trump’s agenda.

Two sources later confirmed to NBC News that Musk’s more than 114-day long tenure as a special government employee officially concluded last evening.

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