The US ‌trade court has ruled against President Donald Trump’s ‌latest 10 per cent global tariffs, finding across-the-board tariffs were not justified ‌under a 1970s trade law.

The US Court of International Trade on Thursday (local time) ruled in favour of small businesses that challenged the tariffs, which took effect on ‌February 24.

The ⁠ruling was 2-1, with one judge ​saying it was premature to grant victory to the small business plaintiffs.

The small businesses had argued the new tariffs were an attempt to sidestep a ⁠landmark Supreme ‌Court ​decision that struck down Trump’s 2025 ​tariffs imposed under the ‌International Emergency Economic Powers Act.

In his February ​order, Trump invoked Section 122 of the US Trade Act of 1974, which allows ​for ​duties for up ​to 150 days to correct serious “balance ‌of payments deficits” or head off an imminent depreciation of the dollar.

Thursday’s court ruling found the law was not an appropriate step for ​the kinds of trade deficits that Trump ​cited in ⁠his February order.

“This decision is an important ​win for ‌American companies that rely on global manufacturing to deliver safe and affordable products. Unlawful ​tariffs make it harder for businesses like ours to compete and grow,” said Jay Foreman, CEO of toymaker Basic Fun!.

“We are encouraged by the court’s recognition ​that ​these tariffs exceeded the President’s authority. ​This ruling brings needed clarity and stability for ‌companies navigating global supply chains.”

The Trump administration had argued that a serious balance-of-payments deficit existed in the form of a $US1.2 trillion ($A1.7 trillion) annual US goods trade deficit and a current account deficit of 4 per cent of GDP.

But some economists and ​trade lawyers argue the US is not on the cusp of a balance-of-payments crisis, ​making the ⁠duties vulnerable to a legal challenge.

-AAP