3,500 Corporations So Fed Up With Trump's Tariffs They Sue the US
Coca Cola, Disney, Ford, Abbott Labs, Tesla, and Home Depot are among the Thousands of Companies Suing the US Over Tariffs.
About 3,500 U.S. companies, including Tesla Inc, Ford Motor Co , Target Corp, Walgreen Co, and Home Depot have sued the Trump administration in the last two weeks over the imposition of tariffs on more than $300 billion in Chinese-made goods.
The suits, filed in the U.S. Court of International Trade, named U.S. Trade Representative Robert Lighthizer and the Customs and Border Protection agency and challenge what they call the unlawful escalation of the U.S. trade war with China through the imposition of a third and fourth round of tariffs.
The legal challenges from a wide variety of companies argue the Trump administration failed to impose tariffs within a required 12-month period and did not comply with administrative procedures.
Blown Away By the Number of Cases
The Financial Times cites Nasim Fussell, a lawyer who was the top trade counsel for the Republican-controlled senate finance committee until last month.
“I am completely blown away by the number of cases being filed. I just think the sheer number is very descriptive of the pain that this has caused," said Fussell
Corporations No Longer Fear the Wrath of Trump
Corporations were once afraid of the wrath of Trump. Not any longer.
Those lawsuits came in the past few weeks.
Trade Wars are Good and Easy to Win
Trade wars are so good and so easy to win that over 3,500 companies filed suit against the US.
In case you forgot, please recall Trump Tweets "Trade Wars are Good and Easy to Win"
That was in 2018. Trump has made zero progress.
On September 29, I noted US Trade Deficit in Goods Swells to a Whopping $82.9 Billion
Also note that with only four months left to go, China is less than a third of the way towards meeting goals Trump insists are on track.
For details, please see How Well is China Honoring Its Trade Deal With Trump?