01/08/2025

Trump Mulls National Economic Emergency Declaration, CNN Reports

This declaration would allow for his new tariff program

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 would 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.

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