By Tom Käckenhoff and Christoph Steitz DUESSELDORF/FRANKFURT (Reuters) -Salzgitter, Germany's second-biggest steelmaker, warned on Monday that Washington's tariff policy was dealing a severe blow to European industry,

The looming legal fight injects uncertainty into President Donald Trump's evolving tariffs plan, which has upended the global economy since April 2.

The U.S. Court of International Trade and others argue the authority to impose tariffs lies with Congress, rendering the tariffs imposed by President Donald Trump on April 2 illegal.

President Trump has a number of options at his disposal to implement tariffs, but none are as broad and aggressive as IEEPA.

Ongoing US-China trade tensions and volatile policy shifts have left investors caught between betting on tariff deescalations and bracing for increased uncertainty.

The rulings against the levies in two federal courts – the U.S. Court of International Trade and the U.S. District Court in Washington, D.C. -- centered on Trump's unprecedented invocation of the International Economic Emergency Powers Act as a legal justification for tariffs.

"The erratic tariff policy of the USA is hitting Europe's economy hard - especially Germany," Salzgitter CEO Gunnar Groebler said in a written statement. Shares in Salzgitter fell along with larger European peers Thyssenkrupp and ArcelorMittal, all down between 0.5 and 2.1%.

By Tom Käckenhoff and Christoph Steitz DUESSELDORF/FRANKFURT (Reuters) -Salzgitter, Germany's second-biggest steelmaker, on Monday warned that Washington's tariff policy was dealing a severe blow to European industry,

As of May 28, the U.S. had collected $68.23 billion in tariff revenue for 2025—an increase of 78 percent over the same period last year.