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The Democratic attorneys general and governors in the lawsuit argue that Trump is overstepping his power with planned 15% tariffs on much of the world.

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In a defeat for the Trump administration, a federal judge in New York ruled Wednesday that companies that paid tariffs struck down last month by Supreme Court are due refunds.

The central bank has cut the key rate by a cumulative ⁠11.5 percentage points since mid-2024, from a record high of 22pc.