Trump Raises Tariffs to 15 Percent After Supreme Court Ruling as Two Dozen Blue States Sue Over 'Illegal and Reckless' Levies

President Trump announced he would raise tariffs to 15 percent following a Supreme Court ruling that gave the administration room to maneuver, prompting a coalition of 24 Democratic-led states to file a lawsuit calling the new levies 'illegal and reckless.' The attorneys general argue that Trump is misapplying a law designed to deal with arcane monetary issues and demand refunds from the federal government for tariffs already collected. The escalation comes as the Dow dropped more than 780 points on Thursday amid the compounding economic pressures of the Iran war and the tariff regime, with oil topping $80 per barrel. The trade fight has now opened a third legal front -- joining existing class-action lawsuits filed by retail customers against FedEx and Ray-Ban's parent company -- and represents the most significant constitutional challenge to presidential tariff authority since the trade wars began. For consumers already absorbing higher energy costs from the Iran conflict, the additional tariff burden threatens a one-two punch that could push inflation back toward crisis levels.