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Trump’s Latest Tariffs Hit With New Lawsuit by Group of States
['Erik Larson', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
(Bloomberg) -- A group of US states filed a lawsuit challenging President Donald Trump's new global tariffs that went into effect last month, adding to similar complaints by groups of small businesses who claim the levies are illegal.
Under the new tariffs, the administration is collecting 10% to 12.5% duties on imports from most major trading partners.
The president then imposed 10% global tariffs, under Section 122 of the Trade Act.
Those were ruled illegal by a trade court, but they were allowed to stay in effect during an appeal.
They filed the case as a proposed class action suit covering all importers of record who will pay the new tariffs.