New York Federal Reserve Bank

Company

Last mentioned: Mar 6, 2026

Timeline

  1. Multi-State Lawsuit

    24 states sue to block the new Section 122 tariffs, citing constitutional overreach.

  2. Refund Ruling

    A judge rules that companies are entitled to refunds for duties paid under the old framework.

  3. Section 122 Invoked

    Trump administration implements new 10% tariffs using the 1974 Trade Act.

  4. Supreme Court Ruling

    SCOTUS strikes down Trump's IEEPA-based tariffs in a 6-3 decision.

Stories mentioning New York Federal Reserve Bank 1

market-trends Bearish

24 States Sue Trump Administration Over New 15% Global Tariffs

A coalition of 24 states has filed a lawsuit against the Trump administration, alleging the president exceeded his constitutional authority by imposing new global tariffs under Section 122 of the Trade Act of 1974. The legal challenge follows a Supreme Court ruling that struck down previous emergency duties, creating a high-stakes battle over executive power and consumer costs.

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