Dozens of countries will face higher tariffs on their exports to the U.S. following Trump's signing of an executive order.

On Thursday, Donald Trump announced sweeping new tariffs against U.S. trading partners that will go into effect next week. The announcement came on the same day that an appeals court grappled with the question of whether Trump’s tariffs are even legal.

The art of the trade deal? About 70 countries face huge export tax increases, but a last-minute change in when they take effect gives them a week to negotiate new agreements.

The Trump administration is touting record tariff revenue as the president reshapes global trade, and there are growing discussions about sending some of that money to Americans in rebate checks.