Washington DC - President Donald Trump said Tuesday that he plans to seek a swift ruling from the Supreme Court as his administration pushes to overturn a court decision that found many of his tariffs illegal.

"We're going to be going to the Supreme Court, we think tomorrow, because we need an early decision," Trump told reporters.

He added that he would ask for an "expedited ruling," warning that "if you took away tariffs, we could end up being a third-world country."

The US Court of Appeals for the Federal Circuit, in a 7-4 ruling on Friday, had affirmed a lower court's finding that Trump exceeded his authority in tapping emergency economic powers to impose wide-ranging duties.

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But the judges allowed these levies to stay in place through mid-October, giving Trump time to take the fight to the Supreme Court.

On Tuesday, Trump claimed that the stock market was "down because of that."

"The stock market needs the tariffs. They want the tariffs," he said.

Wall Street's major indexes retreated Tuesday as uncertainty surrounding the fate of Trump's duties dragged on.

Friday's ruling did not impact sector-specific tariffs like those on steel, aluminum, and autos, which were rolled out under different authorities.

But the decision still marks a blow to the president, who has wielded tariffs as a broad economic policy tool.