The influential business group is concerned that even if it successfully challenges tariffs imposed under an emergency law, the duties could be reapplied under another.

California is suing the Trump administration over its tariffs, accusing President Donald Trump of overstepping his authority in upending the global trade order and causing “immediate and irreparable harm” to California’s economy.

His comments followed a period of turmoil on global stock markets as investors reacted to trade tariffs coming into force and the escalating trade war between the US and China. Powell said surveys of households and businesses reported a "sharp decline" in their sentiment over the economic outlook,

Federal Reserve Chair Jerome Powell said in a speech today that President Trump's tariffs are likely to boost U.S. inflation.

US President Donald Trump's tariffs will likely push up prices and constrain growth, and could put the Federal Reserve in the unenviable position of having to choose between tackling inflation

The Trump administration gave the tech industry and consumers a collective heart attack this morning with a statement that suggested the US would raise tariffs on China to 245%. The White House published an official fact sheet that said,

Only some Chinese goods, such as electric cars and syringes, are subject to a 245% duty. This is not a new, wide-ranging US tariff imposed on China, the White House says. Only some Chinese goods, such as electric cars and syringes,

The World Trade Organization (WTO) has forecast that global trade will fall this year because of US President Donald Trump's tariffs. It added "severe downside risks", including reciprocal tariffs and political uncertainty,

The World Trade Organization slashed its forecast for merchandise trade this year as soaring US tariffs and broader uncertainty hammer international commerce.