President Trump’s latest act of trade-war aggression (this time with a special immigration-policy twist) has so angered the American business community that business groups are weighing legal action against the White House, according to CNBC, which cited sources at the Chamber of Commerce.
🚨 NEW: Business groups consider legal action against White House in response to New Mexico tariffs, @USChamber confirms.
Source tells me discussions will continue through weekend, with groups hoping to have agreement on next steps by Monday. 🚨
— Kayla Tausche (@kaylatausche) May 31, 2019
Discussions will continue through the weekend, and groups hope to have an agreement on next steps by Monday.
If we had to guess, we’d wager that America’s automakers are deeply involved in the plan, since they’re among the industries that will be most heavily impacted.
The pattern of using lawsuits to recoup losses has emerged as a popular strategy this year, with Lyft & Uber shareholders filing lawsuits after the two tech unicorn IPOs flopped.
As a reminder, here’s a breakdown of US imports from Mexico.
via ZeroHedge News http://bit.ly/2HNxpet Tyler Durden