In a decision that will surely be appealed, the Court of International Trade in New York has ruled that the 10% tariff on all U.S. imports that the Trump Administration imposed in Feb. is illegal. The suit was filed jointly by WA state and two companies, Burlap & Barrel and Basic Fun!, on Mar. 9. Section 122 of the Trade Act of 1974 allows for emergency tariffs of up to 15% and to remedy international payments problems and respond to large balance-of-payments deficits. The CIT ruled in a two-to-one split decision ... Log in to view full article.