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Trump considers national emergency to implement universal tariffs, reports say

share-iconFriday, January 10 comment-icon1 week ago 11 views
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scmpSCMP
Trump considers national emergency to implement universal tariffs, reports say

Credited from: SCMP

  • President-elect Donald Trump is contemplating declaring a national economic emergency to impose universal tariffs.
  • This strategy would utilize the International Economic Emergency Powers Act (IEEPA) to manage imports during a national crisis.
  • Under this declaration, Trump plans to initiate tariffs of at least 10 percent on all imports, appealing to his campaign promises.
  • Trump previously applied the IEEPA for a 5 percent tariff threat against Mexico to address immigration issues.
  • Historical context includes President Nixon’s 1971 tariff to stabilize currency relations, showing the act’s precedence in economic policy.

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