President Trump would invoke other tariff authorities if his appeal of a trade court's ruling isn't successful, Commerce Secretary Lutnick said.

The president is set to raise tariffs on steel and aluminum this week, even as the courts are challenging the legitimacy of other levies.

Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.

The president called the prominent judicial activist Leonard Leo a “real ‘sleazebag’” and said the Federalist Society had led him astray in his first term.

It was another week of policy pivots, back-and-forth trade headlines, and economic data that did little to anchor investor expectations. In the midst of the chaos, one phrase kept surfacing across Wall Street: the "TACO" trade.

Hong Kong’s Hang Seng Index, which tracks companies traded in the Chinese city, fell by around 0.6% on Monday. Markets in mainland China are closed due to the Dragon Boat Festival holiday.

President Trump announced a pledge to raise tariffs on foreign steel and aluminum imports, saying he’ll double them from 25% to 50%. Axios senior economics reporter Courtenay Brown joins Alex Witt to discuss this impact and Trump’s economic agenda.

China has vowed to fight back over what it called “discriminatory restrictive measures” by the U.S. that it said are endangering an agreement hammered out between the two countries last month. The statement from the China Ministry of Commerce comes after President Trump on Friday accused Beijing of “totally violating” last month’s 90-day trade-war truce agreed in Geneva,