Trade Policy & Legal Challenges - A federal appeals court is hearing arguments about whether President Trump overstepped his authority to impose tariffs, potentially rendering trade deals illegal [1] - Piper Sandler suggests the administration is struggling to justify the tariffs, arguing the President is claiming national emergency powers without statutory authority [2][3] - The legality of tariffs is questioned, citing Article 1, Section 8 of the Constitution, which grants Congress the authority to impose tariffs [4][5] - The case is likely headed to the Supreme Court, with potential rulings in the coming months and a decision possibly by June [6][7] - There is a possibility that the Supreme Court may strike down the tariffs, with originalist and liberal judges potentially aligning against broad presidential authority [7][8][9] Market Impact & Investor Sentiment - The market's reaction to a potential overturning of trade deals is uncertain, with investors seemingly unconcerned about the tariffs [10][11] - The market consensus appears to be that the worst of the tariffs is over, but this view is challenged as deals are raising, not lowering, tariffs [11][12][13]

Geopolitical Implications - US Secretary of State revoked the visa for Brazilian Supreme Court Justice [1] - The revocation is linked to the Brazilian high court's actions against ex-President Jair Bolsonaro [1]

Joining us now, NBC News chief Capitol Hill correspondent Ryan Nobles, New York Times chief White House correspondent and MSNBC political analyst Peter Baker, and MSNBC legal correspondent Lisa Rubin. Ryan, um, I'm not quite sure I've ever seen anything quite like what happened in the judiciary committee today. Um, am I wrong.Is this normal practice. It's certainly not normal practice, Katie. Not saying it's unprecedented, but it is uh certainly out of the norm to see an entire panel of a hearing break apar ...

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President Trump has only begun to add to the Supreme Court’s caseload. Here are some top takeaways as the justices retreat for a summer break. https://t.co/xfkxHg7HBB ...