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Reports indicate that President-elect Donald Trump is exploring the possibility of invoking a national economic emergency as a legal foundation for implementing widespread tariffs on both friendly nations and competitors, according to CNN’s Wednesday report based on insider sources.
President-elect Trump is considering declaring a national economic emergency to provide legal justification for a large swath of universal tariffs on allies and adversaries, as Trump seeks to reset the global balance of trade in his second term. https://t.co/gy5sTIytWY
— KWWL (@KWWL) January 8, 2025
The potential strategy would enable Trump to establish a comprehensive tariff framework by invoking the International Economic Emergency Powers Act. This legislation grants presidents the authority to regulate imports during periods of national emergency, as detailed in CNN’s coverage.
“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.
Trump’s trade deficit crackdown is poised to reshape global economic dynamics. US #tariffs on Chinese goods could disrupt supply chains and slow growth across the Global South, where economies depend on US consumption. #USChinaTrade https://t.co/TldASr5P5A
— Asia Times (@asiatimesonline) January 7, 2025
The Republican president-elect, who will assume office on January 20, has committed to implementing a 10% tariff on all goods entering the United States. His plan also includes a substantial 60% tariff specifically targeting Chinese imports. Additionally, Trump has announced his intention to impose a 25% tariff on goods from Canada and Mexico immediately upon taking office.
