Stocks closed higher on Thursday after a panel of federal judges blocked President Donald Trump from slapping some of his far-reaching tariffs on China and other major U.S. trading partners. A federal appeals court moved to temporarily reinstate the tariffs on Thursday afternoon,

"The worldwide and retaliatory tariff orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs. The trafficking tariffs fail because they do not deal with the threats set forth in those orders.

The prime minister is heading to the G7 meeting in Canada, where he's expected to hold his first face-to-face meeting with US President Donald Trump.

Elon Musk, during an interview with CBS, criticized President Donald Trump’s “ big, beautiful bill,” exposing a significant fracture in a partnership trying to reshape American politics and the federal government.

The extension is the latest turnabout by Mr. Trump, whose trade policies have injected substantial uncertainty into the global economy. While announcing his recommendation for 50 percent E.U. tariffs on Friday, the president had assailed Europe’s negotiating tactics and expressed no interest in reaching a deal.