Donald Trump to announce national economic emergency on January 20 after inauguration day?
Donald Trump, who has vowed tariffs of 10 per cent on global imports, and 60 per cent on Chinese goods, 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 unnamed sources familiar with the matter. The inauguration event is scheduled on January 20.
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The move will allow Trump to build a new tariff program by using the International Economic Emergency Powers Act (IEEPA), which authorizes a president to manage imports during a national emergency, the report said.
A national emergency declaration under IEEPA has long been considered as a key legal tool that Trump may invoke to take quick action on his campaign promise to impose a universal tariff of at least 10 per cent on all imports into the U.S, as per the Reuters report.
Three weeks after his election in November, Trump said on social media that immediately after his January 20 inauguration, he would sign «all necessary documents» to begin charging Mexico and Canada 25 per cent tariffs unless illegal immigration and fentanyl trafficking is halted.
Trade experts view that action as likely involving an IEEPA emergency declaration.
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