A group of five small businesses is suing President Donald Trump in the U.S. Court of International Trade in an attempt to block the new tariffs he’s imposed on foreign imports. That’s according to CNBC. They claim the president illegally bypassed Congress by claiming that trade deficits with other countries are an emergency, calling that “a figment of his own imagination.” WRCR chief market analyst Ken Mahoney of Mahoney Asset Management says the president’s been all over the place when it comes to the tariffs, and that’s not a great strategy…
Meanwhile, the Associated Press reported yesterday Trump suggested he might temporarily exempt the auto industry from tariffs he previously imposed on the sector. The president announced 25% auto tariffs on March 27th, describing them at the time as “permanent.”