President Trump’s “Liberation Day” tariffs came under their first major legal challenge Monday, brought by a libertarian public-interest firm that argues the president overstepped his authority.  Trump’s April 2 announcement imposed a baseline 10 percent tariff on imports and targeted dozens of countries with higher “reciprocal” tariffs.

In today's newsletter, Goldman Sachs sees more pain ahead for the stock market — and China just retaliated to US tariffs, again. What's on deck Markets: The dollar and Treasurys are nosediving in the 'Sell America' trade.

President Donald Trump announced a complete pause on all the “reciprocal” tariffs that went into effect at midnight, with the exception of China.