President Donald Trump’s reliance on tariffs, or the threat of them, could soon face a legal reckoning. As the Supreme Court hears arguments this week, the justices will decide whether the president has pushed his tariff authority beyond what federal law allows, and the decision could have wide-ranging implications for his foreign policy.

Brazil’s Gerdau has announced a plan to invest US$600 million in a new mill in Mexico, closely linking the project’s trajectory to ongoing US trade negotiations. Although the full details are available only through paid channels, early indications suggest important cross-border implications.