Numerous countries around the world are facing the prospect of much higher duties on their exports to the United States on Friday because they haven’t yet reached a trade deal with the Trump administration.

U.S. appeals court judges sharply questioned on Thursday whether President Donald Trump's tariffs were justified by the president's emergency powers, as lawyers for states and businesses challenging the measures argued he exceeded his authority.

While discussions with trading partners continue and a revamp of U.S. trade policy faces legal hurdles in federal court, U.S. President Donald Trump is approaching his deadline of Friday, Aug. 1, for implementing higher import tariffs on products from across the world.