“IEEPA nowhere mentions tariffs, duties, imposts, or taxes, and no other President in the statute’s nearly 50-year history has claimed that it authorizes tariffs,” the companies added in a filing with the appeals court.

Donald Trump unleashed a series of tariff deals and demands on the eve of his Friday deadline, including surprises on India and copper as the US president attempts to create a new global trade order.Trump on Wednesday announced tariffs of 15% on imports from South Korea that matched the rate for neighbor Japan,

A federal appeals panel will hear arguments from states and businesses that seek to invalidate the president’s tariffs.