Trump's Bold Move: Economic Emergency for Tariffs

In a significant development, United States President-elect Donald Trump is reportedly considering declaring a national economic emergency. This move aims to legally justify the imposition of extensive universal tariffs, according to CNN. The report, citing four knowledgeable sources, highlights Trump's potential use of the International Economic Emergency Powers Act (IEEPA) to regulate imports during national emergencies.

Prior to his inauguration, Trump had already signaled his intention to enforce a 25% tariff on all imports from Mexico and Canada. Moreover, he pledged to impose significant tariffs on the European Union and proposed a 10% tariff on Chinese imports, marking a decisive shift in U.S. trade policy.