CNBC - May 31, 2019
U.S. business groups are considering suing the White House over the Trump administration’s new tariffs on Mexican imports.
The powerful U.S. Chamber of Commerce is mulling its legal options in response to the duties, the group’s Senior Vice President of International Affairs John Murphy told reporters Friday. Murphy said the group has no choice but to look into every option to push back on the tariff policy.
Business groups more broadly are discussing the possibility of suing the White House, a source told CNBC. A decision on how to proceed is expected by Monday.
While top business organizations have repeatedly slammed tariffs Trump levied on trading partners such as Mexico, Canada and China, a lawsuit would mark a major escalation in their opposition to White House trade policy.
On Thursday night, the president announced the U.S. would put 5% tariffs on goods from Mexico starting June 10. The Trump administration says it hopes the duties will force America’s southern neighbor to curb illegal immigration — though the president cited manufacturing jobs and trade deficits as motivation for the tariffs in Friday tweets. The White House said the duties would gradually rise to 25% by October 2019.
The surprise announcement Thursday sent U.S. stock markets tumbling Friday. Major U.S. indexes dipped more than 0.75% in morning trading. ...
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