President Donald Trump’s trade deals are illegal, Piper Sandler flatly declares in a new research note. The investment bank analyzed ongoing court battles and legislative authority, and concluded that Trump’s reliance on the International Emergency Economic Powers Act (IEEPA) to impose wide-ranging tariffs and cut bilateral deals far exceeds the powers granted by Congress.

A 15% tariff on Japanese imports could impact Hawaii businesses and consumers, affecting everything from electronics to industrial machinery.

A group representing the ‘big three’ US automakers raised concerns that the US-Japan trade deal could hurt US auto workers

U.S. stocks are rising toward another record following a trade deal between the world’s No. 1 and No. 4 economies.

President Trump has announced a flurry of trade deals that will relieve some pressure on companies and consumers from sharply higher tariffs on imports from Japan and a handful of other Asian countries.

While recession odds have been dialed back in recent weeks, economists surveyed by The Wall Street Journal still see 33% odds of one coming within a year, compared with 22% at the start of 2025. Meanwhile, earnings estimates for the S&P 500 compiled by research group FactSet are 3% lower since then, the Journal said.