Just when there seemed to be little hope that Donald Trump would reverse his aggressive tariff plans, Mr. Market saved the day, forcing the U.S. president to reverse course. But what might be at the root of Trump’s U-turn is not concern about tanking markets,

Twelve states sued the Trump administration Wednesday for “illegally imposing” tax hikes on Americans through tariffs.

The U.S.’s international trade court declined late Tuesday to immediately block President Donald Trump’s sweeping tariffs—at least for now—marking the first ruling on the president’s controversial tariffs as multiple lawsuits allege Trump exceeded his authority by imposing them.