US President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, CNN reported on Wednesday, citing sources familiar with the matter.
Donald Trump mulls economic emergency declaration to allow for new tariffs | World News – Business Standard
“Nothing is off the table,” a source familiar with the matter told CNN, acknowledging that a discussion had taken place over declaring a national emergency
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US President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, CNN reported on Wednesday, citing sources familiar with the matter.
The move will allow Trump to build a new tariff program by using the International Economic Emergency Powers Act, which authorizes a president to manage imports during a national emergency, the report said.
“Nothing is off the table,” a source familiar with the matter told CNN, acknowledging that a discussion had taken place over declaring a national emergency.
The Trump transition team did not immediately respond to a Reuters request for comment.
Trump, a Republican who will take office on Jan. 20, has vowed to impose tariffs of 10% on global imports into the U.S., along with a 60% tariff on Chinese goods. He has also said he would impose a 25% tariff on Canadian and Mexican imports on his first day in office.
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