President Trump's tariffs order for countries yet to strike a trade deal with the U.S. went into effect just after midnight on Friday, though most levies aren't due to start until Aug. 7. Why it matters: While countries like Mexico struck trade deal extensions ahead of Trump's deadline,

The court will hear arguments Thursday but is not expected to issue a decision from the bench, so any decision over the tariffs’ legality is most likely to come after Friday, when the Trump administration’s pause on the worst of its “Liberation Day” tariffs is set to expire.