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25 states sue Trump administration over latest round of tariffs
['Wcbi News']
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25 states sue Trump administration over latest round of tariffs(CBS NEWS) – According to CBS, a coalition of 25 states on Monday filed a lawsuit against the Trump administration, alleging that it exceeded its authority in imposing a new round of sweeping tariffs last month.
U.S. trading partners haven’t done enough to crack down on imports produced with forced labor, the Trump administration said in announcing the new levies.
Section 301 tariffs have proven to be a legally durable tool since the president’s first term, and they remain so now.”
Mr. Trump has said tariffs are necessary to revive U.S. manufacturing, reduce the nation’s trade deficit and generate federal revenue.
The U.S. effective tariff rate has fallen this year to 7.4%, from 9.4%, after the Trump administration replaced temporary Section 122 duties with Section 301 tariffs on imports from 60 economies, according to Fitch Ratings.