00:00It's Benzinga bringing Wall Street to Main Street.
00:02Two small businesses sued the Trump administration on Monday over a new round of tariffs that
00:07impose a global 10 percent tax on imported goods, according to Reuters.
00:11The lawsuit was filed by spice importer Burlab and Barrel and toy company Basic Fun through
00:16the Liberty Justice Center.
00:18The companies argue that Trump cannot reimpose tariffs under a different law after the U.S.
00:22Supreme Court struck down earlier tariffs on February 20.
00:25The lawsuit argues the administration is misreading an older trade law designed to address historical
00:32monetary issues rather than routine trade deficits.
00:35Burlab and Barrel co-founder Ethan Frisch said the tariffs raise costs for U.S. importers,
00:40disrupt partners who sell crops, and increase prices for American families.
00:45For all things money, visit Benzinga.com.
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