A panel of federal judges ruled today that President Trump’s 10 percent tariff on most U.S. imports is illegal. The decision appeared to place, for now, strict new limits on the president’s trade powers.

In a split ruling, the Court of International Trade found that Trump had wrongly invoked a decades-old trade law when he applied across-the-board tariffs in February. The president had imposed the levies after his previous set of tariffs was struck down by the Supreme Court. The Trump administration is likely to appeal.

In other Trump administration news:

• The government learned last week that its debt may have surpassed the nation’s total economic output.

• The president met with Brazil’s president but skipped a planned joint appearance.

U.S. and Iran exchange fire, testing the truce

Iran’s military said today that it had fired on American ships in the Strait of Hormuz, in retaliation for the U.S. targeting of an Iranian tanker. The U.S. military said it, in turn, struck Iranian military facilities and other targets. Iran accused the U.S. of violating the cease-fire. Follow here for the latest updates.

Hours earlier, Iranian officials said that their country was discussing with the U.S. a one-page proposal to reopen the Strait of Hormuz and end hostilities for 30 days, while the two sides try to reach a comprehensive peace settlement.