The U.S. Chamber of Commerce is weighing a lawsuit against the White House over President Donald Trump’s latest round of tariffs.
The powerful business lobbying group confirmed Friday that “we are exploring all options, including legal action” after Trump announced tariffs on Mexican imports.
The tariffs would begin at 5% and increase by 5 percentage points each month before reaching 25% on Oct. 1.
Concerned investors say tariffs can drain profits. Consumers fear tariffs because they could lead to increased prices, such as on cars imported from Mexico.
The U.S. imported about $371.9 billion in goods and services from Mexico in 2018, according to the Office of the U.S. Trade Representative.
The president said he would pursue the tariffs until Mexico stops the flow of immigrants without legal documentation into the United States.
The move by the U.S. Chamber reflects the pro-business interest group’s widening divide with the president. The Chamber has staked out ground in opposition to Trump on immigration and trade.
The plan: Trump announces tariffs on Mexico in effort to stop migrants coming to the US
The reaction: Dow, stocks stumble in afternoon trading on Mexico tariffs and recession fears
“Imposing tariffs on goods from Mexico is exactly the wrong move,” U.S. Chamber Chief Policy Officer Neil Bradley said in a statement. “These tariffs will be paid by American families and businesses without doing a thing to solve the very real problems at the border. Instead, Congress and the president need to work together to address the serious problems at the border.”
Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.