Key takeaways

  • Rep. Hakeem Jeffries, D-N.Y., who is likely the next House speaker, has made clear that ending President Trump's tariffs is one of Democrats' top priorities.
  • The most recent suit, filed Oct. 20, targets Trump's use of a Great Depression-era law to impose 50% tariffs on a range of Canadian goods.
  • The administration has since been ordered to refund $166 billion in tariff revenue it had collected under the scrapped policy.

Democrats are preparing to challenge President Donald Trump's signature tariff policy as soon as they take power in the next Congress. Democratic leaders plan to speed legislation to the House floor that reasserts Congress' authority over trade.

Read the full story at cnbc.com ↗