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US Chamber of Commerce mulls lawsuit over Trump tariffs: local media

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US Chamber of Commerce mulls lawsuit over Trump tariffs: local media

2025-04-09 15:54 Last Updated At:18:27

The U.S. Chamber of Commerce is reportedly preparing legal action against the Trump administration to halt new tariffs set to take effect on April 9, according to the American business magazine Fortune.

The Chamber, representing millions of American businesses, is weighing litigation to challenge the administration’s latest trade measures. Major corporate members are reportedly pushing for the move, with other industry groups likely to join the suit.

Fortune said the move could serve as a protective measure for businesses that are hesitant to openly criticize the administration's trade policies.

But the spokesperson of the Chamber refused to make comments and the White House did not respond to the request for comments immediately.

Amid widespread opposition, U.S. President Donald Trump on April 2 signed an executive order on the so-called "reciprocal tariffs," imposing a 10-percent "minimum baseline tariff" and higher rates on certain trading partners.

The 10-percent baseline has already been implemented as of Saturday. Starting at midnight on Wednesday, Trump's higher import tax rates on dozens of countries and territories will come into effect.

US Chamber of Commerce mulls lawsuit over Trump tariffs: local media

US Chamber of Commerce mulls lawsuit over Trump tariffs: local media

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 20 pips to 7.0108 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan strengthens to 7.0108 against USD Monday

Chinese yuan strengthens to 7.0108 against USD Monday

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