Core Viewpoint - The New York Attorney General and 23 other state prosecutors are suing to block President Trump's new global tariff regime, following a Supreme Court decision that invalidated his previous tariffs [1][2]. Group 1: Legal Actions and Tariff Policies - The lawsuit aims to declare Trump's latest tariffs illegal and seeks refunds for states affected by these tariffs [1]. - The Supreme Court recently invalidated most of Trump's "Liberation Day" tariffs, stating that the use of the International Emergency Economic Powers Act was improper [2]. - Following the Supreme Court's ruling, Trump announced a new wave of tariffs based on Section 122 of the Trade Act of 1974, currently set at 10% with plans to increase to 15% [2]. Group 2: Economic Impact and Reactions - Attorney General Letitia James criticized Trump for causing economic chaos and effectively raising taxes on consumers and small businesses [3]. - The coalition of state attorneys general, which successfully blocked Trump's original tariffs, is contributing to the ongoing uncertainty in international trade due to these tariff policies [4]. - A federal court ruled that companies that paid tariffs, which were later struck down by the Supreme Court, are entitled to billions of dollars in refunds [4].
States led by New York sue to block Trump's latest tariffs, calling them an illegal end-run around Supreme Court
CNBC·2026-03-05 16:02