ব্যঙ্গাত্মক বর্ণনা এবং ফরেক্সের প্রবেশদ্বার বিন্যাস
Twelve US states want to cancel Trump’s tariffs in legal action
The US economy is boiling over. The whole fuss is because of the president. As of now, twelve US states have filed a lawsuit demanding the cancellation of tariffs imposed by Donald Trump’s administration. The White House may be forced to reconsider its strategy.
Following the imposition of sweeping tariffs on several countries, New York and eleven other states took legal action seeking their repeal. According to analysts, this trade policy is slowing US economic growth while increasing unemployment, inflation, and the risk of a recession.
The lawsuit was filed with the US Court of International Trade. In addition to New York, the states joining the complaint include Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, Nevada, New Mexico, Oregon, and Vermont.
In early April, the American president imposed reciprocal tariffs on imports from other countries, setting a baseline rate of 10%. Moreover, starting from April 9, elevated tariff rates came into effect for 57 countries, calculated based on the US trade deficit with each respective nation. However, Trump later announced that over 75 countries had not taken retaliatory measures and had requested negotiations, so for the next 90 days, a basic 10% import tariff would apply to all countries except China.
© InstaFintech Group
