California filed a federal lawsuit Wednesday challenging President Donald Trump’s sweeping tariff regime, according to CNBC. The lawsuit argued that the president's use of emergency economic powers to impose tariffs is illegal. Governor Gavin Newsom said Trump lacks the authority to impose sweeping tariffs. The lawsuit claims Trump’s use of the International Economic Emergency Powers Act to implement his reciprocal tariff plan is unlawful and without precedent.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02California filed a federal lawsuit Wednesday challenging President Donald Trump's sweeping
00:06tariff regime, according to CNBC. The lawsuit argued that the president's use of emergency
00:11economic powers to impose tariffs is illegal. Governor Gavin Newsom said Trump lacks the
00:16authority to impose sweeping tariffs. The lawsuit claims Trump's use of the International Economic
00:21Emergency Powers Act to implement his reciprocal tariff plan is unlawful and without precedent.
00:28For all things money, visit Benzinga.com slash GSTV.