President Trump would invoke other tariff authorities if his appeal of a trade court's ruling isn't successful, Commerce Secretary Lutnick said.

President Trump’s top economic advisers stressed on Sunday that they would not be deterred by a recent court decision declaring many of the administration’s tariffs to be illegal, pointing to other authorities the White House could invoke to pressure China and other nations into trade negotiations.

The so-called TACO trade will be tested as markets wait to see if Trump will actually follow through with his latest threat or if he will put it on hold soon.

The president's plan - where countries face between 11% to more than 100% tariffs on goods brought into the US - was announced in April. But the majority of the tariffs were paused by Trump for 90 days in the wake of stock market volatility.

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

Wells Fargo's Christopher Harvey thinks a 10% tariff could be split evenly between importers, corporations, and consumers.

Homebuilder stocks rallied on Thursday, in a sign that residential construction will benefit from the ruling striking down Trump's tariffs.

Amid court challenges, the White House asserts confidence in President Donald Trump's tariff strategy, emphasizing the administration's focus on maintaining fair trade practices.