By Sayantani Ghosh, David Gaffen, Arpan Varghese SAN FRANCISCO/NEW YORK/BENGALURU (Reuters) -President Donald Trump's trade war has cost companies more than $34 billion in lost sales and higher costs,

The trade court noted that Trump retains more limited power to impose tariffs to address trade deficits under another statute, the Trade Act of 1974. But that law restricts tariffs to 15% and only for 150 days with countries with which the United States runs big trade deficits.

U.S. President Donald Trump on Thursday criticized a trade court decision that said he had exceeded his authority in imposing his most sweeping tariffs, calling it wrong and that he hoped the Supreme Court would overturn the decision.