A federal trade court blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law, arguing Trump has exceeded his authority.

A senior administration official told ABC News that Musk will continue to serve as an unofficial adviser to the president, could potentially attend White House meetings.

In a surprising ruling on Wednesday, May 28, the U.S. Court of International Trade blocked President Donald Trump from imposing most of his tariffs, bringing yet more uncertainty to the global economic order.

Investors will be watching for updates on the labor market and President Trump's trade war as markets turn the page on a historically strong May.

Nvidia results pleased investors and eased fears over China tariffs and separately a court ruled President Trump’s tariffs are illegal with the White House vowing to appeal and Elon Musk is officially done with DOGE.

President Donald Trump’s massive tax and immigration package is headed to the Senate for consideration after narrowly passing the House on Thursday morning. Changes are expected in the Senate. House Republicans labored overnight to secure votes needed to pass the One Big Beautiful Bill.

The White House requested the original assessment in February as it was preparing Mr. Trump’s Alien Enemies Act proclamation. Even after the council produced its first assessment, Mr. Trump proceeded to sign the proclamation that put forward the opposite claim in order to activate wartime deportation powers.

Trump says he'll decide within two weeks how to react to Russia's role in Ukraine peace talks, warning of possible tougher action. Follow Newsweek's live blog.

President Donald Trump urged Federal Reserve Chair Jerome Powell to lower interest rates when the two met on Thursday, saying the Fed's current rate makes the U.S. less competitive in global markets.

Kevin Hassett, from the White House National Economic Council, continued to promote the administration's trade deals and responded to a court ruling that blocks some of President Donald Trump's global tariffs during an interview with FOX Business Network's "Mornings with Maria" on Thursday.