The U.S. Court of International Trade is hearing arguments in an attempt to overturn the temporary tariffs imposed by President Donald Trump after the Supreme Court rejected his preferred choice of larger, more sweeping tariffs. The tariffs, which are scheduled to expire on July 24, are aimed at "fundamental international payments problems" and the question is whether the law even covers trade deficits. The temporary tariffs were introduced in response to the 1973 International Emergency Economic Powers Act (IEEPA), which allowed the president to impose global tariffs of up to 15% for 150 days, after which congressional approval is needed to extend them. The Supreme Court ruled that IEEPA does not authorize the use of tariffs to counter national emergencies.