CNN: Trump is considering declaring a national economic emergency to allow for a new tariff plan
Four insiders told CNN that Trump is considering declaring a national economic emergency to provide legal basis for imposing large-scale general tariffs.
The declaration would allow Trump to use the International Emergency Economic Powers Act (IEEPA) to formulate a new tariff plan, which unilaterally authorizes the president to manage imports during a state of emergency.
One source pointed out that Trump likes this law because it gives him broad jurisdiction over how to implement tariffs without strictly requiring proof that the tariffs are for national security considerations. The Trump transition team did not respond to requests for comment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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