Link Securities | Reuters reported on Friday that a group of 24 US states have sued the US administration in the first legal challenge to its newly imposed 10% global tariffs. The states argue that President Trump cannot circumvent the Supreme Court (SC) ruling that invalidated most of his previous tariffs on imported goods by citing new legal authority.
The Democrat-led states, including New York, California and Oregon, argue that the new tariffs, which Trump announced immediately after the high court’s ruling on 20 February, are also illegal. The tariffs were imposed for 150 days under the Trade Act of 1974, which is intended to address short-term currency emergencies, not routine trade deficits that arise when a wealthy nation such as the United States imports more than it exports, according to the states’ lawsuit filed in the New York-based US International Trade Court.
