A group of five small U.S. businesses sued President Donald Trump, challenging his recent tariff hikes as unconstitutional, according to CNBC. The lawsuit argues that Trump unlawfully invoked emergency powers to justify the tariffs, bypassing Congress’s authority to impose taxes. The Liberty Justice Center, which represents the plaintiffs, argues that Trump's tariffs are severely harming small businesses nationwide. The lawsuit claims the trade deficit used to justify the tariffs does not constitute a real emergency.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02A group of five small U.S. businesses sued President Donald Trump
00:05challenges recent tariff hikes as unconstitutional, according to CNBC.
00:10The lawsuit argues that Trump unlawfully invoked emergency powers
00:12to justify the tariffs, bypassing Congress's authority to impose taxes.
00:17Liberty Justice Center, which represents the plaintiffs,
00:20argues that Trump's tariffs are severely harming small businesses nationwide.
00:24The lawsuit claims the trade deficit used to justify the tariffs
00:26does not constitute a real emergency.
00:29For all things money, visit Benzinga.com slash GSTV.