A dozen US states are suing Trump, say his new tariffs are illegal

CNBC with the report, in brief:

• A dozen states sued President Donald Trump and his administration, seeking a court order declaring that his new tariffs are illegal.
• “The president does not have the power to raise taxes on a whim, but that’s exactly what President Trump has been doing with these tariffs,” New York Attorney General Letitia James said in a statement on the lawsuit.
• The suit was filed in the U.S. Court of International Trade in Washington, D.C.

More details here.

The article lists 11 states:

• New York, Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, New Mexico, Oregon and Vermont.

This article was written by Eamonn Sheridan at www.forexlive.com.