A naukri.com initiative
Bloomberg Quint
5d
385
Image Credit: Bloomberg Quint
California Governor Gavin Newsom Says State To Sue Over Trump’s Tariffs
- California Governor Gavin Newsom announced that the state will sue to stop President Trump's tariffs, challenging the use of emergency powers to impose tariffs on Mexico, China, and Canada.
- Newsom and California Attorney General Rob Bonta plan to seek a court order to block the levies, citing harm to consumers and businesses in California.
- Trump's use of the International Emergency Economic Powers Act to impose tariffs has caused economic disruptions, market uncertainty, and strained international relations.
- The President's use of tariffs based on national emergency declarations has led to legal challenges, including arguments about congressional approval for such actions.
- California, a significant economic power, is challenging Trump's tariffs due to their impact on industries like agriculture, manufacturing, and small business exporters.
- Newsom has positioned himself as a national voice on various issues during his governorship, with potential presidential aspirations for 2028.
- California's lawsuit alleges that Trump's tariffs are causing chaos in the state's economy and jobs market, urging for an immediate block on the levies.
- The state plays a crucial role in agriculture and manufacturing, exporting significant amounts of goods like almonds, dairy products, and vehicles.
- California accounts for 14% of the nation's GDP and has a population of 40 million, making it one of the largest economies globally if considered independently.
- The legal challenge against Trump's tariffs signals a high-stakes battle over trade policy and the scope of presidential emergency powers in enacting tariffs.
Read Full Article
23 Likes
For uninterrupted reading, download the app