"Once again, President Trump is ignoring the law and the constitution to effectively raise taxes on consumers and small businesses. The president is causing more economic chaos and expecting Americans to foot the bill. These tariffs will only drive up the cost of living, and I will continue to uphold the rule of law to protect New Yorkers."
"The attorneys filing the lawsuit argue that no president has ever issued tariffs under section 122 of the Trade Act of 1974, which they say was created for outdated monetary balance problems. The law caps the tariff rate and time to 15% for a maximum of 150 days."
"The president is using his authority granted by Congress to address fundamental international payments problems and to deal with our country's large and serious balance-of-payments deficits."
A coalition of 24 states led by New York Attorney General Letitia James filed a lawsuit to block Trump's planned 15% tariffs on all imports. The White House announced the new tariff rate would begin this week after the Supreme Court invalidated previous tariffs. The lawsuit argues Trump lacks authority to impose tariffs under Section 122 of the Trade Act of 1974, which caps rates at 15% for 150 days maximum and was designed for outdated monetary issues. State officials claim the tariffs constitute illegal taxation on consumers and small businesses, with New York Governor Hochul citing $13.5 billion in costs to New Yorkers. The White House maintains the president has congressional authority to address balance-of-payments deficits. The case will be filed in US Court of International Trade.
Read at www.theguardian.com
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