On Thursday, Donald Trump announced sweeping new tariffs against U.S. trading partners that will go into effect next week. The announcement came on the same day that an appeals court grappled with the question of whether Trump’s tariffs are even legal.

Motor industry giant Ford says it expects tariffs to cost it about $2bn (£1.5bn) this year, which is more than previously expected, despite building most of its cars in America. The company says it had already paid an extra $800m in duties in the three months ending in June.

President Donald Trump signed an executive order Thursday placing tariffs on many U.S. trade partners — the next step in his trade agenda that will test the global economy and alliances