“IEEPA nowhere mentions tariffs, duties, imposts, or taxes, and no other President in the statute’s nearly 50-year history has claimed that it authorizes tariffs,” the companies added in a filing with the appeals court.

A U.S. appeals court on Thursday will review President Donald Trump's power to impose tariffs, after a lower court said he exceeded his authority with sweeping levies on imported goods.

Ford Motor said Tuesday that it lost money in the second quarter as tariffs took a toll on its business. The company also said it expected tariffs to cost it a total of $2 billion this year. The automaker lost $36 million from April through June,

Ford Motor reported second-quarter revenue that beat expectations, and reinstated its full-year guidance, which it had withdrawn in May due to tariffs.

The US automaker has fared best of all since tariffs were introduced, but forecast an even higher $4.66 billion cost because of them.