00:00It's Benzinga, bringing Wall Street to Main Street.
00:02A coalition of 25 Democratic-led states sued the Trump administration Monday, according
00:07to CNBC.
00:08The lawsuit argues that President Trump exceeded his authority by imposing tariffs of 10 percent
00:12or 12.5 percent on goods from 60 U.S. trading partners.
00:16The lawsuit asked the U.S. Court of International Trade to block the tariffs, declare them unlawful,
00:20and order refunds of duties already paid.
00:23The states argue the administration improperly used Section 301 of the Trade Act of 1974
00:28to preserve Trump's tariff regime after courts rejected earlier versions under different
00:32laws.
00:33The White House defended the tariffs as a lawful response to forced labor concerns in global
00:37supply chains.
00:38The administration cited forced labor concerns to justify the tariffs, but the states allege
00:42officials rushed the investigations, skipped required consultations, and failed to explain
00:47the nearly uniform rates.
00:49For all things money, visit Benzinga.com.
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