Legal Challenge to Trump's 10% Global Tariffs Under Review by U.S. Trade Court
The U.S. Court of International Trade is reviewing a legal challenge against President Trump's 10% global tariffs, imposed under Section 122 of the Trade Act of 1974. This follows the Supreme Court's rejection of his previous tariffs under the IEEPA. The new tariffs, which are set to expire in July, are being contested by 24 states and several businesses. They argue that the tariffs misuse Section 122, which was intended for short-term monetary emergencies, not trade deficits. The court is examining whether the current trade deficits qualify as 'fundamental international payments problems' as defined by the statute. 
