US President-elect Donald Trump is reportedly considering declaring a national economic emergency to impose import tariffs on both allies and adversaries, according to CNN sources.
Trump is reportedly eyeing the International Economic Emergency Powers Act (IEEPA), a law that grants broad authority to the president in managing tariffs during a national emergency. The law allows for unilateral implementation of tariffs without requiring strict proof that they are necessary for national security, making it a powerful tool for trade management.
Trump previously used the IEEPA during his first term, threatening Mexico with steep tariffs on all imports unless it took action to curb illegal migration to the United States. The potential use of this law in his second term could signal a significant shift in US trade policy, with broader implications for international relations.
